for its debut international bond on Monday, a $10 billion issuance following a doubling of its profits after oil prices rose last year.
The company's credit rating, A1 from Moody's, is tied to that of Saudi Arabia given the huge intrinsic links between the two entities. One of the main advantages of issuing the bond is receiving high ratings from the various credit agencies. It's the first major opportunity for investors to scrutinize the offering of one of the world's largest energy companies given the usually secretive nature of Aramco's disclosures. It's part of a transparency push on behalf of Saudi Arabia as part of a will-they-won't-they over the company's IPO plans which it shelved last year.
BISouthAfrica Unbelievable how Saudi has made a government owned company work, we are so scare to take that approach in South Africa
BISouthAfrica Of course they are, everyone is FORCED to buy oil and when alternative energies appear their inventors are removed from the public eye.
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