Fitch has cut its rating for Saudi Arabia’s oil giant Aramco after the September attacks on two of its key refineries. The downgrade comes a week after the firm slashed Saudi Arabia’s overall credit rating. Aramco, the world’s largest oil company, had its A+ rating, which it received in April after announcing its inaugural public bond issue, slashed to A. The rating agency said the downgrade “took into account rising geopolitical tensions in the region, but also the country’s continued fiscal deficit, among other factors.” Fitch put the outlook for state-owned Aramco at “stable.” Also on rt.com
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