Saudi Aramco in 2018 became the most profitable company in the world

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Moody’s Investors Service has assigned the first issuer rating of “A1” to Saudi Arabia’s state-owned oil corporation Saudi Aramco. The agency said that the company's rating outlook is stable. The statement notes that Saudi Aramco's net profit for the past year surpassed the cumulative figure of Apple Alphabet and Exxon Mobil corporations, reaching 111 billion 100 million dollars. Saudi Aramco's operating cash flow in 2018 was $121 billion. Capital investment rose to $35 billion 100 million. However, Moody’s announced that the final rating of the company is limited to the sovereign rating of Saudi Arabia “A1”, because Saudi Aramco is closely linked to the state, to which it pays 50% of its profits in the form of income tax. At least 20% of its revenue goes to pay for subsoil use.

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