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Fitch cuts Saudi Arabia rating to “AA-”, outlook remains Negative

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Ratings agency Fitch cut Saudi Arabia rating to “AA-” on lower oil prices and tensions with Iran.

    Key points

    Country ceiling affirmed at "AA+"

    Downward revisions of oil price assumptions has major negative implications for fiscal and external balances

    Fiscal reform measures will not prevent a substantial erosion of fiscal and external buffers during 2016/17
    For more information, read our latest forex news.
     

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