The Public Investment Fund of Saudi Arabia has achieved its first short-term credit rating of A-1 with a stable outlook by S&P Global Ratings, a major milestone for the sovereign wealth fund as it enhances its global financial position.
The same A-1 rating was also given to the US and European commercial paper programs by PIF, which it had launched in June 2025 to increase flexibility in short-term funding and diversify liquidity sources.
S&P stated in the rating that PIF’s “robust balance sheet, strong liquidity position, and disciplined financial management,” and agrees with Saudi Arabia’s own short-term sovereign rating.
Acting Head of the Capital Finance Strategy Department at the Public Investment Fund (PIF), Ziyad Al-Fawzan, said that the rating “highlights the strength of PIF’s balance sheet and the sophistication of our liquidity management framework,” citing that it enables the fund to “broaden access to short-dated markets, diversify our investor base, and reinforce the depth of our credit quality and funding flexibility.”
The new S&P rating makes PIF one of the few sovereign wealth funds that have been rated by all three major credit agencies in the world.
Moody’s assigns PIF a long-term Aa3 rating and a short-term P-1 rating, whereas Fitch rates the fund A+ long-term and F1+ short-term with stable outlooks.
PIF claimed that the ratings were a reflection of confidence in its long-term strategy, which is focused on value creation, capital efficiency, and safeguarding long-term returns.
The fund remains one of the most influential investors globally, as it remains at the center of building new economic sectors, enhancing investment opportunities all over the world, and promoting the agenda of transforming Saudi Arabia through the Vision 2030 agenda.
