Fitch downgrades Saudi credit rating | The National:
"The credit ratings agency Fitch has downgraded Saudi Arabia by a notch to AA minus as lower oil prices continue to widen the deficit of the world’s biggest oil producer.
However, the downgrade, which follows on the heels similar cuts by other rating agencies including Standard & Poor’s, still keeps the country firmly in the higher echelon of investment grade issuers.
Fitch said on Tuesday it took the move to lower its rating on Saudi Arabia because of its own in-house downward revision of oil price expectations to US$35 per barrel in 2016 and $45 per barrel in 2017. It did not say what the estimates were reduced from."
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