Fitch Upgrades News Today

Fitch said Saudi Arabia has one of the highest reserve coverage ratios among rated sovereigns at 18 months of current external payments

• Foreign exchange exposure limited Yesterday, the international rating company Fitch Ratings upgraded RE’s Long Term Issuer Default Rating (IDR) to BBB- from BB+. This means that Fitch now rates RE as investment grade. Outlook is stable. The upgrade is primarily based on Fitch’s expectations of RE’s improvement in credit metrics over the next four years. The expectations reflect RE’s stellar performance in 2020, in the midst of the global pandemic. Furthermore, the credit rating refl...