Moody’s examines Saudi banks downgrade | The National

Moody’s examines Saudi banks downgrade | The National:

"Moody’s says it may downgrade Saudi Arabia’s banks, as public spending cuts and low oil ­prices lead to rising loan defaults.

It follows a mass downgrade of Saudi banks and a cut in the country’s sovereign rating by ­rival ratings agency Standard & Poor’s.

“We expect the operating environment for Saudi banks to weaken over the next 12 to 18 months," said Olivier Panis, who covers Gulf banks for Moody’s."



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