Fitch downgrades Saudi Arabia's on rising geopolitical risk
- Country:
- Saudi Arabia
Rating agency Fitch downgraded Saudi Arabia's credit rating to A from A+ on Monday citing rising geopolitical and military tensions in the Gulf and a deterioration of the kingdom’s fiscal position.
The downgrade – which places Saudi Arabia one notch above the assessment of peer rating agency S&P Global – is a blow to the largest Arab economy just as it is gearing up for a potential international sale of U.S. dollar-denominated Islamic bonds.
Also Read: Corp tax cuts may bolster growth eventually; fiscal impact to come sooner: Fitch
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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- S&P Global
- Gulf
- US
- Arab
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