- Standard & Poor’s cuts Saudi Arabia’ credit rating to A+
Market news
2 November 2015
Standard & Poor’s cuts Saudi Arabia’ credit rating to A+
Ratings agency Standard & Poor's (S&P) on Friday lowered Saudi Arabia' credit rating to A+ from AA-. The outlook is negative.
The agency noted falling oil prices will lead to a wider government deficit. According to S&P, the country's deficit could rise to 16% of gross domestic product (GDP) this year from 1.5% in 2014.
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