S&P affirms Oman

Standard & Poor's said it affirmed its long-term BBB+ foreign currency and A- local currency and its

short-term A-2 sovereign credit ratings on the Sultanate of Oman.

The outlook is stable.

S&P said the ratings on the Sultanate of Oman are supported by the government's strong fiscal position, continued monetary stability and solid external finances.

The ratings on Oman remain constrained by a high economic dependence on oil, for which production levels have been diminishing in recent years, the agency noted.

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