Saudi Arabia Credit Rating Cut by S&P After Oil Prices Sink

Updated on
  • Deficit will widen to 16% of GDP in 2015, ratings company says
  • Country's level of public debt is among the world's lowest

Saudi Arabia’s credit rating was cut by Standard & Poor’s , which said the decline in oil prices will increase the budget deficit in a country that relies on energy exports for 80 percent of its revenue.

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