S&P boosts Oman

S&P said it raised Oman’s long-term ratings to BB- from B+.

“Following high fiscal and external pressures since 2015 that culminated in 2020 with the double shock from the Covid-19 pandemic and sharp fall in oil prices, we now expect Oman to benefit from higher oil prices and the government's ongoing reforms,” S&P said in a press release.

Additionally, the agency noted the government's path to lower reliance on oil receipts, including new tax revenue measures such as the 5% value-added tax introduced last April and spending rationalization since 2020.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.