Our financing strategy is based on a set of key principles that are all premised on supporting our strong credit rating that is linked to the sovereign rating of the Kingdom. Our financing strategy aims to ensure access to a diverse set of funding sources, instruments and markets, both geographically and across institutions and to maintain adequate liquidity to meet investing activities requirements, as well as to maintain appropriate liquidity for daily operations and short-term financing needs. In this context, SEC looks forward to building long-term relationships with all types of financing partners. Our financing strategy beside our strong internal cash flows from operations underlays meeting the requirements of operating and investment expenditures and enhancing SEC’s financial position. SEC succeeded in maintaining a strong investment grade credit rating from global rating agencies, which comes one the highest corporate ratings in the Kingdom.