Industry presses govt to take emergency steps for improving economy
Predictions much higher than assessments made by SBP, says country's susceptibility to event risk is 'high'
Many companies have opted for inter-corporate financing rather than taking bank loans
Standard & Poor's remove Britain's coveted AAA status, downgrading it by two notches with a long-term negative outlook
Fellow agencies, Standard and Poor’s and Fitch have also downgraded Saudi Arabia in recent months
Considers downgrading other crude exporters due to low prices
Government debt has swelled from less than 5% of annual economic output three years ago
It also pointed to a new media law that gives the government extensive control over management of public broadcasters
S&P, which lowered the Netherland’s rating in November 2013, gave the country a stable outlook
Fall comes as the kingdom’s deficit rose sharply due to low oil prices
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