March 26, 2020 / 9:37 PM / 8 days ago

S&P affirms Saudi Arabia rating at 'A-/A-2' with stable outlook

March 26 (Reuters) - S&P Global on Thursday affirmed Saudi Arabia’s sovereign credit ratings at ‘A-/A-2’ with a stable outlook, saying its estimate of the Gulf nation’s strong net asset-stock position on its fiscal and external balances continues to be a key ratings support.

However, prolonged low oil prices without a significant fiscal adjustment could lead to an erosion of the net asset stock position and put pressure on Saudi Arabia's ratings, the agency said in a statement here (Reporting by Nishara Karuvalli Pathikkal in Bengaluru; Editing by Maju Samuel)

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