Saudi Arabia’s credit worthiness was downgraded at Fitch Ratings after the plunge in oil prices. The kingdom’s rating was lowered one level to AA-, the fourth-highest investment grade, the rating agency said on Tuesday. It maintained a negative outlook for the credit, signaling the possibility of more downgrades. The cut reflects the “revision of our oil price assumptions for 2016 and 2017” to $35 a barrel and $45 a barrel respectively, it said. The reduction is the first time Fitch has downgraded Saudi Arabia since at […]