S&P lifts Oman view

Standard & Poor's said it revised its outlook on the Sultanate of Oman to stable from negative.

At the same time, the agency said it affirmed its A/A-1' long- and short-term sovereign ratings on the sultanate. Oman's transfer and convertibility assessment remains AA-.

The agency said the outlook revision reflects its view that political reforms and economic measures are helping to address popular demands and restoring stability to the domestic environment.

The ratings are supported by Oman's substantial net external and general government asset positions and prudent investment policies. Ratings are constrained by, in S&P's view, a heavy dependence on hydrocarbons, political risk and a challenging demographic profile, the agency said.

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