Fitch raises Oman Electricity

Fitch Ratings said it upgraded Oman Electricity Transmission Co. SAOC’s long-term foreign-currency issuer default and its senior unsecured ratings to BB+ from BB.

The upgrades follow a similar action on Oman’s issuer rating on Aug. 15, to BB from BB-, Fitch said. Oman is Oman Electricity’s majority owner.

The outlook is stable.

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