Saudi Arabia just got a negative rating from Fitch, from AA to AA-. The downgrade is due to the oil-rich kingdom's decision to slash its average oil price assumptions from $35 to $45 a barrel for 2016 and 2017.
Standard & Poor has trimmed Brazil's loan rating into "junk territory' following the nation's failure to reduce its fiscal risks and the political hurdles facing the economy of Brazil. The government is hopeful to reform its fiscal strategy amid political challenges and economic slowdown.
Fitch affirmed Bahrain's credit ratings.
Fitch gave a 'BBB-(EXP)' rating to Indonesia's USD-denominated global bonds.
Nokia's Standard & Poor's rating plummeted further in the junk territory.
Some nonbank financial companies have begun to rely more heavily on long-dated, unsecured retail notes as a critical source of funding, and issuance volumes are likely to rise again in 2013
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