"The downward revision of our oil price assumptions for 2016 and 2017 to $35 per barrel and $45 per barrel, respectively, has major negative implications for Saudi Arabia's fiscal and external balances," said Fitchin a statement on Tuesday. It maintained a negative outlook on the country, signaling the possibility of further downgrades, and said it expects Saudi Arabia's deficit to widen .... https://www.rt.com/business
Tuesday, April 12, 2016
Fitch cuts Saudi Arabia rating over weak oil prices
The Fitch credit rating agency has downgraded Saudi Arabia to AA-minus from AA, saying its oil price assumptions have “major negative implications” for the country’s financial position.
"The downward revision of our oil price assumptions for 2016 and 2017 to $35 per barrel and $45 per barrel, respectively, has major negative implications for Saudi Arabia's fiscal and external balances," said Fitchin a statement on Tuesday. It maintained a negative outlook on the country, signaling the possibility of further downgrades, and said it expects Saudi Arabia's deficit to widen .... https://www.rt.com/business
"The downward revision of our oil price assumptions for 2016 and 2017 to $35 per barrel and $45 per barrel, respectively, has major negative implications for Saudi Arabia's fiscal and external balances," said Fitchin a statement on Tuesday. It maintained a negative outlook on the country, signaling the possibility of further downgrades, and said it expects Saudi Arabia's deficit to widen .... https://www.rt.com/business
