Bond sales to bolster Saudi economy, says ratings agency | The National:
"Saudi Arabian banks, reeling under the pressure of falling oil prices, may get a shot in the arm from a spate of sovereign bonds sold this year, the rating agency Standard & Poor’s said.
The country is the world’s biggest exporter of oil and its economy is likely to feel the pain of less revenue more intensely if the price of crude, which has lost more than half of its value, continues to slide.
The debt issued by the government, the first time it has sold bonds with maturities of more than 12 months since 2007, means that banks that purchased the debt will get safer yields that will buffer them against any downturn in the economy if there is a sharp drop off in demand for debt by corporations."
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