S&P Upgrades Oman's Credit Rating to BBB-

Standard & Poor's has upgraded Oman's credit rating to 'BBB-' from 'BB+' with a stable outlook, marking its return to investment-grade status for the first time since 2017. This upgrade reflects improvements in the Sultanate's public finances and ongoing economic reforms, despite continued dependence on oil prices. The agency expects Oman's fiscal position to remain resilient against oil price shocks, with potential for moderate financial surpluses projected over the next few years. Concurrently, Moody's Ratings has also upgraded Omantel’s ratings due to its stable financial performance and improved liquidity, although it cautioned about intensified competition in the telecommunications sector. The overall financial outlook for Oman appears positive, supported by structural reforms and a commitment to reducing public debt and enhancing economic stability.