Standard and Poor’s rating degrades Saudi Arabia two … – Boursorama

The rating agency Standard and Poor’s downgraded two notches Wednesday note of Saudi Arabia to “A-”, instead of a + (AFP / ERIC PIERMONT)

the Standard and Poor’s rating agency downgraded two notches Wednesday note of Saudi Arabia to “A-”, instead of a + ( AFP / ERIC PIERMONT)

“the decline in oil prices will have a significant and lasting impact on the budget and economic indicators of Saudi Arabia given its strong dependence on oil” according to SP, which however involves a stable outlook to this degraded notes.

“the stable outlook reflects our expectation that the Saudi authorities will take measures to prevent further deterioration of the financial situation of the government beyond our current forecast, “said the rating agency.

SP now provides that the average annual growth of the Saudi debt could exceed 7% of GDP in the kingdom between 2016 and 2019, a period during which it estimates that the price per barrel of crude will oscillate between 40 and 50 dollars.

the neighbors Saudi Arabia, Bahrain and Oman, like Kazakhstan, another major producer of hydrocarbons, also was damaged Wednesday by SP. The Sultanate of Oman passes so “BBB +” to “BBB-”, the Kingdom of Bahrain to “BBB-” to “BB”, thus falling into speculative grade, and Kazahstan from “BBB” to “BBB-”.

But the agency has maintained its rating of the sovereign debt of Russia to “BB +” with a negative outlook, after yet warned last October that lowering possible.

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