RIYADH: The Arab Petroleum Investments Corp., or APICORP, a multilateral development financial institution announced that it has received an “AA-” credit rating from S&P Global, which the company calls a reflection of “the robust financial performance and risk profile.” With this latest S&P credit rating, APICORP has become one of the highest-rated Arab financial institutions, which currently holds ratings of “AA” from Fitch, and “Aa2” from Moody’s. S&P Global report noted that APICORP’s close relationship with its member countries and long track record of profitable years and a high return on equity, averaging 5.4 percent over the past five years, is stronger than most rated multilateral lending institutions. “The rating enables APICORP to benefit from enhanced market access and mobilize financial resources at competitive rates, thereby enhancing lending capabilities for our member countries to accelerate their transition to a cleaner and more sustainable energy future,” said APICORP CEO Ahmed Ali Attiga.