S&P affirms Oman

Standard & Poor's said it affirmed its A long-term and A-1 short-term foreign and local currency sovereign credit ratings on the Sultanate of Oman based on its view of the sovereign's good fiscal performance.

The transfer and convertibility assessment remains AA-.

According to the agency, the ratings on the Sultanate of Oman are supported by the government's strong fiscal position, together with the country's solid external finances and increasing wealth levels.

They remain constrained by a heavy economic dependence on hydrocarbons, geopolitical tensions in the region, and, in the longer term, comparatively low visibility regarding policy direction under a succession scenario, S&P added.

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