While strong when compared with other sovereign credit ratings, Saudi Arabia’s fiscal health remains under threat from low oil prices, Moody’s said. Moody’s Investors Service said the drop in crude oil prices, off more than 50 percent since the middle of 2014, has undermined the economy and finances for Saudi Arabia. As a result, the long-term rating for the country was lowered one notch from Aa3 to A1. According to Moody’s, Saudi Arabia’s nominal gross domestic product declined around 13 percent last year and should shrink another 5 percent in 2016. Though crude oil prices have recovered strongly so far this year, the ratings agency said it will be another three years before the Saudi economy returns to […]