Oman – Sovereign Ratings and Stable Outlook Affirmed
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Summary
Ref: OM 2 2 CRA00- 0 2 9 September 2022
Oman – Sov ereign Ratings and Stable Outlook Affirmed
Rating Action
Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has affirmed Oman’s Long-Term Foreign Currency Rating ( LT FC R ) and Long-Term Local Currency Rating ( LT LC R ) 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 ’. The Outlook for the ratings remains Stable .
Rating Rationale
The ratings reflect the decline in central government debt in addition to the improvement in fiscal and external strength due to high hydrocarbon revenues and exports . The ratings are supported by the country’s relatively sound banking system, as well as CI’s expectation that financial support would be forthcoming from other GCC countries in the event of need. The ratings are constrained by…