Moody’s moves Oman view to positive

Moody's Investors Service said it changed the outlook on the government of Oman's issuer rating to positive from stable and affirmed its long-term issuer and senior unsecured ratings at Ba3. The agency also affirmed Oman's (P)Ba3 senior unsecured medium-term note program rating.

The positive outlook reflects the strengthening of Oman's debt burden and debt affordability metrics during 2022, mostly because of higher oil prices.

“Meanwhile, the prospect that oil prices remain elevated for the next few years affords the government additional time to advance its fiscal and economic reform agenda, increasing the likelihood that Oman's structural vulnerability to cyclical declines in oil prices and its exposure to longer-term global carbon transition risks will be reduced,” Moody’s said in a press release.

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