May 1, 2020 / 9:12 PM / a month ago

Moody's cuts Saudi Arabia's outlook to "negative" from "stable"

May 1 (Reuters) - Moody's Investors Service on Friday cut Saudi Arabia's outlook to "negative" from "stable", saying the oil price crash has raised fiscal risks for the Gulf nation. (bit.ly/3aRYDMd)

However, the ratings agency affirmed sovereign credit rating at “A1”, citing Saudi Arabia government’s “still relatively robust, albeit deteriorating” balance sheet, moderate debt level and substantial fiscal and external liquidity buffers. (Reporting by Devbrat Saha in Bengaluru; Editing by Vinay Dwivedi)

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