Logo ofThe Public Investment Fund (PIF)
The Public Investment Fund (PIF) announced today, Dec. 1, that it has received a short-term credit rating of A-1 from SP Global Ratings, with a stable outlook. 
This rating reflects PIF’s robust balance sheet, strong liquidity position, and disciplined financial management. It also aligns with the Kingdom’s short-term credit rating.
SP also assigned the same A-1 short-term rating to PIF’s US and European commercial paper programs, established in June 2025, aimed at boosting short-term financing flexibility and diversifying liquidity sources.
Ziyad Alfawzan, PIF’s Head of Capital Finance Strategy, said: “This rating highlights the strength of PIF’s balance sheet and the sophistication of our liquidity management framework. It enables us to broaden access to short-dated markets, diversify our investor base, and reinforce the depth of our credit quality and funding flexibility, positioning PIF among leading global issuers recognized for disciplined and diversified balance sheet management.”
PIF’s credit ratings demonstrate the Fund’s financial resilience, high confidence in the effectiveness of its long-term strategy, its focus on creating economic value, improving investment efficiency, and ensuring sustainable returns over the long term.
PIF joins a select group of sovereign wealth funds with ratings from the three leading credit rating agencies:
· Aa3 with stable outlook from Moody’s.
· A+ with stable outlook from Fitch.
· A-1 short-term rating with stable outlook from SP.
PIF is recognized as one of the world’s most influential investors, actively supporting sectors and opportunities that shape the global economy, generate returns, and drive Saudi Arabia’s economic transformation.
Logo ofThe Public Investment Fund (PIF)
The Public Investment Fund (PIF) announced today, Dec. 1, that it has received a short-term credit rating of A-1 from SP Global Ratings, with a stable outlook.
This rating reflects PIF’s robust balance sheet, strong liquidity position, and disciplined financial management. It also aligns with the Kingdom’s short-term credit rating.
SP also assigned the same A-1 short-term rating to PIF’s US and European commercial paper programs, established in June 2025, aimed at boosting short-term financing flexibility and diversifying liquidity sources.
Ziyad Alfawzan, PIF’s Head of Capital Finance Strategy, said: “This rating highlights the strength of PIF’s balance sheet and the sophistication of our liquidity management framework. It enables us to broaden access to short-dated markets, diversify our investor base, and reinforce the depth of our credit quality and funding flexibility, positioning PIF among leading global issuers recognized for disciplined and diversified balance sheet management.”
PIF’s credit ratings demonstrate the Fund’s financial resilience, high confidence in the effectiveness of its long-term strategy, its focus on creating economic value, improving investment efficiency, and ensuring sustainable returns over the long term.
PIF joins a select group of sovereign wealth funds with ratings from the three leading credit rating agencies:
· Aa3 with stable outlook from Moody’s.
· A+ with stable outlook from Fitch.
· A-1 short-term rating with stable outlook from SP.
PIF is recognized as one of the world’s most influential investors, actively supporting sectors and opportunities that shape the global economy, generate returns, and drive Saudi Arabia’s economic transformation.
