S&P lowered the sovereign rating for Saudi Arabia one notch from A+/A-1 to A-/A-2 because of lower crude oil prices, which the ratings agency said would have a "marked and lasting impact" on the kingdom's financial position.
"We now expect that Saudi Arabia's growth in real per capita gross domestic product will fall below that of peers and project that the annual average increase in the government's debt burden could exceed 7 percent of GDP in 2016-2019," it said .... http://www.upi.com
