Oman – Sovereign Ratings Affirmed; Outlook Remains Positive
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Summary
20 February 2026
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed Oman’s Long-Term Foreign Currency Rating (LT FCR) and LT Local Currency Rating (LT LCR) at ‘BBB-’. At the same time, CI Ratings has affirmed the sovereign’s Short-Term (ST) FCR and ST LCR at ‘A3’. The Outlook on the ratings remains Positive.
Rating Drivers
The ratings reflect Oman’s improving capacity to absorb external shocks and withstand oil price volatility, supported by the strengthening of external and fiscal buffers and underpinned by accelerated reform implementation under Vision 2040. Efforts are ongoing to reduce the state’s footprint in the economy, deepen private sector participation in non-hydrocarbon industries, attract foreign direct investment (FDI), strengthen labour market resilience, and modernise the banking and financial sectors. The government is also taking steps to strengthen the public finances by broadening the revenue base and…