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Saudi Arabia’s Credit Rating Outlook Cut to Negative at S&P

Vehicle light trails pass the Kingdom Tower on King Fahad Road in Riyadh, Saudi Arabia.

Vehicle light trails pass the Kingdom Tower on King Fahad Road in Riyadh, Saudi Arabia.

Photographer: Waseem Obaidi/Bloomberg
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Saudi Arabia, the world’s largest oil exporter, had the outlook on its credit grade cut to negative by Standard & Poor’s while other struggling energy-producing nations had their ratings lowered.

The Saudi kingdom could lose its AA- credit ranking, the fourth-highest debt grade, in two years if its “liquid assets” decline or its fiscal position weaken, S&P said in a statement Monday. The rating company also cut the grades of Oman, Bahrain, Kazakhstan and Venezuela by one step, citing lower oil prices.