The Saudi Finance Ministry on 30 September took the unusual step of openly criticizing ratings agency Fitch for downgrading Saudi Arabia’s sovereign credit rating by one notch to ‘A’ earlier the same day. The Fitch downgrade came in light of the 14 September attacks which took out more than half of the country’s oil output. Though Saudi Arabia claims to have more or less restored production (see p11), the attacks laid bare the vulnerability of the heart of the...
Riyadh Slams Fitch Downgrade
Published on Fri, 04 Oct 2019 - Volume: 62 Issue: 40Print
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