Moody's Confirms Saudi Arabia's Aa3 Rating as Hormuz Disruption Persists
Moody's affirmed Saudi Arabia's Aa3 long-term local and foreign currency issuer and senior unsecured ratings and maintained a stable outlook, even as the Strait of Hormuz has been effectively closed since early March. The agency cited the kingdom's large hydrocarbon resources, low production costs, ongoing economic reforms and anticipated oil reven…