Global ratings agency Fitch on Thursday revised Saudi Arabia's Outlook to stable from negative, citing significantly higher oil prices and continued government commitment to fiscal consolidation.

Fitch maintained Saudi Arabia's sovereign rating at 'A'.

"Oil dependence, weak governance indicators and vulnerability to geopolitical shocks constrain the rating," the agency said in its statement.

(Reporting by Bhanvi Satija; Editing by Maju Samuel) ((Bhanvi.Satija@thomsonreuters.com;))