Fitch cut Omantel

Fitch Ratings said it downgraded Oman Telecommunications Co. SAOG's long-term foreign-currency issuer default rating to BB from BB+. The outlook is negative.

The rating actions follow the downgrade of Oman's long-term foreign currency IDR to BB from BB+. Omantel's rating is capped by the sovereign's due to strong strategic and operational links with the Sultanate of Oman. This connection also drives the negative outlook on the IDR, which would otherwise be stable, the agency said.

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