Saudi Arabia Credit Risk Surges Most in Almost Two Years

The cost of insuring Saudi Arabian debt against default through five-year credit-default swaps soared more than 20 basis points last week amid an anti-corruption purge in the kingdom. Renewed tensions with Hezbollah, an Iranian-backed militant group, have compounded investor concerns about rising political risks in the region. The last time the nation’s CDS jumped as much in a single week was in January 2016 at the height of the oil-market crash.

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