US downgrade spurs concerns on Saudi assets
►http://www.gulfinthemedia.com/index.php?id=570369&news_type=Economy&lang=en
“The downgrade of US’s credit rating has raised concerns over SAMA’s foreign assets as the majority of assets are held as T-bills. SAMA should begin to diversify its portfolio in other currencies to mitigate risks. It seems officials have more challenges ahead in 2011 as the global economy takes another hit.”
(via @alaingresh)
S&P cuts Israeli bonds guaranteed by U.S. to ’AA+’ - MarketWatch
►http://www.marketwatch.com/story/sp-cuts-israeli-bonds-guaranteed-by-us-to-aa-2011-08-08-1052370?link=MW
Standard & Poor’s Ratings Services on Monday lowered the ratings on U.S.-guaranteed bonds issued by the Israeli government to AA+ from AAA. The downgrade comes in the wake of the ratings agency’s move on Friday to strip the U.S. of its triple-A rating. However, Israel’s sovereign rating is unchanged at A with a stable outlook. The decision affects about $6 billion in debt.