Fitch Ratings on Tuesday lowered the long-term credit rating of Saudi Arabia because of the negative impact of lower oil prices on the world's biggest crude exporter.
The agency "has downgraded Saudi Arabia's long-term foreign and local currency" ratings to AA- from AA, it said, adding the outlook remains negative.
It said it had revised downwards its oil price assumptions for this year and next, to $35 and $45 a barrel, which "has major negative implications for Saudi Arabia's fiscal and external balances".
In February another ratings giant, Standard and Poor's, cut the kingdom's credit rating by two notches, to A-.
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