While investors in the Saudi stock market have begun pricing in the possibility of significant domestic unrest, plenty of analysts have said such an event is highly unlikely. On Monday, Standard & Poor's joined that chorus.
The rating agency has kept the Kingdom's sovereign credit rating stable, reflecting what analysts on a conference call said was "our view that [civil unrest] is not going to happen in Saudi Arabia".
The rationale was largely economic: with more than $400bn of reserves, the country has ample leeway to spend its way out of trouble, with King Abdullah's announcement of a new $36bn spending program an early sign of how the government plans to deal with unhappy citizens.
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