Moody's cuts Saudi, Oman, Bahrain debt ratings | Reuters

Moody's cuts Saudi, Oman, Bahrain debt ratings | Reuters:

"Moody's Investors Service cut its debt ratings for Saudi Arabia, Oman and Bahrain on Saturday while assigning negative outlooks to three neighboring states, as low oil prices continue to undermine government finances in the region.

The rating agency downgraded Saudi Arabia's long-term issuer rating by one notch to A1 but gave the kingdom a stable outlook, saying sweeping economic reforms announced by the government last month might stabilize the state budget.

In late April, Deputy Crown Prince Mohammed bin Salman revealed Saudi Arabia's biggest policy shake-up in decades, including tax rises, an efficiency drive and plans to give a bigger role to the private sector."



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