Moody's Investors Service decided to cut ratings for Saudi Arabia, Oman and Bahrain due to low oil prices, Reuters reported.
It was decided to reduce the long-term issuer rating of Saudi Arabia to the level of A1, Bahrain - Ba2, Oman - Baa1.
The agency also revised the negative forecast for Kuwait, Qatar, the United Arab Emirates and Abu Dhabi, while maintaining their ratings at Aa2 level.
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