Standard & Poor’s cuts Oman’s credit rating
S&P reportedly downgraded Oman’s ratings after Oman’s Finance Ministry released that the government’s budget deficit reached 2.93 billion rials ($7.62 billion) in the first nine months of 2015 compared a 136.1 million rial surplus in the previous year.
Previously, S&P had lowered Saudi Arabia’s credit rating one level to A+, the fifth-highest classification, from AA- for the same reason.
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