Saudi charm offensive buys it time as S&P downgrades debt

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* Markets firm after sharp sovereign rating cut * Senior Saudi officials met foreign bankers, analysts * Willing to discuss vulnerabilities of eco**my * Concern remains over Riyadh's ability to implement reforms * But message is that currency peg will stay By Andrew Torchia DUBAI, Feb 18 (Reuters) - Saudi Arabia's financial markets barely blinked on Thursday after its debt was downgraded - a sign that a charm offensive by Saudi eco**mic officials, and determined action against speculators, have bought it time in the eyes of many investors. In the last few weeks, officials of the central bank and ministries of finance, eco**my and oil have met privately with groups of foreign bankers and analysts to discuss the kingdom's plans to cope with low oil prices.

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