Oman – Sovereign Ratings Affirmed; Outlook Revised to Stable
Content is restricted
Summary
Ref: OM 2 2 CRA00- 0 1 18 March 2022
Oman – Sov ereign Ratings Affirmed ; Outlook Revised to Stable
Rating Action
Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has revised the Outlook on Oman’s Long-Term Foreign Currency Rating (LT FCR) and Long-Term Local Currency Rating (LT LCR) to Stable from Negative. T he sovereign’s LT FC R and LT LC R have been affirmed at ‘ BB ’ . At the same time , CI Ratings has affirmed Oman’s S hort- T erm F oreign Currency Rating (ST F CR ) and Short-Term Local Currency Rating ( S T LCR ) at ‘ B ’.
Rating Rationale
The revision of the outlook reflects the ongoing strengthening of fiscal and external balances as well as improving government debt metrics – developments which are largely driven by the direct and indirect impact of higher hydrocarbon prices . The ratings are supported by the country’s moderate fiscal and external buffers, relatively sound…