By Trend

Ratings agency Fitch on Friday revised the outlook on Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), to "positive" from "stable" following a similar action on the country, Trend reports with reference to Reuters.

It also affirmed the PIF's rating at "A".

Fitch had cited improvements in Saudi Arabia's balance sheet due to higher oil revenues as reasons for its outlook revision on the country earlier this month.