Global ratings agency S&P raised Saudi Arabia's rating to 'A+' from 'A' with a stable outlook on Friday, underpinned by the ongoing social and economic transformation in the country. Fitch said the country's Vision 2030 project provides some flexibility in managing capital expenditure and debt issuance. The sustained momentum in this project can help boost activity in construction, logistics, manufacturing and mining sectors, prompting GDP growth over 2025-28, the report said. Earlier this week, the ratings agency had said it expects Saudi government to cut capex and associated current spending in 2025.