{"id":2024,"date":"2025-02-16T10:14:31","date_gmt":"2025-02-16T07:14:31","guid":{"rendered":"https:\/\/api.tassneif.e8demo.com\/news\/unified-credit-ratings-for-pif-project-contractors-tassnief-ceo\/"},"modified":"2025-02-16T10:14:31","modified_gmt":"2025-02-16T07:14:31","slug":"unified-credit-ratings-for-pif-project-contractors-tassnief-ceo","status":"publish","type":"news","link":"https:\/\/api.tassnief.com\/ar\/news\/unified-credit-ratings-for-pif-project-contractors-tassnief-ceo\/","title":{"rendered":"Unified credit ratings for PIF project contractors: Tassnief CEO"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","news-type":[10],"class_list":["post-2024","news","type-news","status-publish","hentry","news-type-news-type-ar"],"acf":{"title":"Unified credit ratings for PIF project contractors: Tassnief CEO","detail":{"textarea":"Imad Kurdi, CEO of Simah Rating Agency (Tassnief), said the Public Investment Fund's (PIF) economic enhancement program aims to unify financial solvency assessments for contractors and PIF-affiliated firms. The goal is to ensure efficient project execution and sustainable funding support.","image":2020},"textarea2":"Speaking to\u00a0<strong>Argaam\u00a0<\/strong>at the PIF-Private Sector Forum, Kurdi explained that the program aims to develop a unified credit rating system. This helps determine the project scale each contractor can handle based on financial capacity, improving transparency and reducing funding assessment discrepancies.\r\n\r\nThe methodology balances financial metrics (40%) with sector, industry, and management quality criteria. This structured approach ensures contractors take on projects aligned with their financial strength.\r\n\r\nKurdi highlighted that standardizing risk assessments across PIF-affiliated firms minimizes rating discrepancies and strengthens confidence among financiers and contractors.\r\n\r\nHe highlighted the collaboration with insurers and the Insurance Authority to introduce surety bonds as an alternative to bank guarantees, improving project efficiency and reducing reliance on bank facilities.\r\n\r\nProject solvency has risen by an average of 28% since implementing the new framework, Kurdi said.\r\n\r\nThis improvement reflects greater contractor efficiency in executing mega-projects tied to Vision 2030, ensuring timely completion, he added.","listing":2020,"banner_im":759},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Unified credit ratings for PIF project contractors: Tassnief CEO | 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