Fitch: Saudi Loan Shows Fiscal Risk, May Have Structural Benefit

(The following statement was released by the rating agency)

LONDON, April 20 (Fitch) Saudi Arabia's move to raise USD10bn

via an

international bank loan reflects the pressure on its fiscal

balances caused by

lower oil prices that contributed to our recent sovereign

downgrade, Fitch

Ratings says. Over the longer term, international sovereign debt

issuance may

support the development of a market for Saudi corporate bonds.

Press reports on Wednesday said that Saudi Arabia had agreed a

USD10bn,

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