LONDON: Saudi Aramco was the world’s most profitable company in 2018, easily surpassing American behemoths including Apple and Exxon Mobil, according to an extract of the firm’s accounts published by Fitch Ratings.
The credit rating, a first for Aramco, offers the first glimpse into the accounts of the company, which have remained secret since its nationalisation in the late 1970s. The oil giant has mandated banks to hold a roadshow for dollar-denominated notes from April 1, potentially including tranches from three to 30 years, according to a person familiar with the matter.
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