S&P sticks with credit rating for ‘stable’ Saudi Arabia | The National

S&P sticks with credit rating for ‘stable’ Saudi Arabia | The National:

"Standard & Poor’s has kept its main credit rating for Saudi Arabia unchanged at its current level, describing the outlook for the economy as “stable".

The move follows the announcement of a bold series of reforms designed to overhaul the kingdom’s economy, and a levelling out of the price of oil.

S&P’s decision to keep Saudi Arabia’s main credit rating on hold at A- comes after two downgrades in the past six months following a collapse of oil revenues and dwindling foreign currency reserves, leaving the kingdom’s rating four levels above non-investment grade territory.

"



'via Blog this'