Fitch downgrades Saudi credit ratings over military tentions

The agency said in a statement it had lowered Saudi Arabia's long-term foreign-currency issuer rating from A+ to A, with a stable outlook.

An Aramco oil facility near al-Khurj area, just south of the Saudi capital Riyadh. Picture: AFP

DUBAI - Fitch Ratings on Monday downgraded Saudi Arabia's credit rating by one notch, citing "rising geopolitical and military tensions in the Gulf region" after unprecedented attacks on Saudi oil facilities.

The agency said in a statement it had lowered Saudi Arabia's long-term foreign-currency issuer rating from A+ to A, with a stable outlook.