Dubai — Rating agency Fitch said the killing of Saudi journalist Jamal Khashoggi is unlikely to affect its assessment of the Kingdom’s credit risk.

Yields on Saudi bonds have risen since early October and the cost of insuring Saudi debt against default has increased by around 30 basis points.

Despite this, events in Turkey “didn’t change the situation too much,” said Jan Friederich, head of sovereign ratings, Middle East and Africa at Fitch Ratings.

Speaking at a conference in Dubai on Wednesday, he said that – barring any radical change – the fallout of Khashoggi’s murder is unlikely to have an impact on Fitch’s rating.

Fitch last month affirmed its A+ rating of the Kingdom. — Reuters