Saudi Arabia allows Fitch to conduct credit rating activities

This picture taken on January 17, 2012 in Paris shows a close-up of a page of the Ratings agency Fitch website. (AFP)

Rating agency Fitch has obtained a license to operate in Saudi Arabia, the country’s capital markets regulator said on Monday, as the kingdom tries to bolster its debt market.

The Capital Market Authority (CMA) said in a statement it has licensed Fitch Australia Pty Ltd to conduct credit rating activities in the country.

In late 2016, CMA approved a license for Standard & Poor’s, which became the first foreign credit agency to obtain such permission.

Last Update: 13:02 KSA 16:02 - GMT 13:02