S&P lifts Energy Development Oman

S&P said it raised its long-term issuer and issue credit ratings on Energy Development Oman SAOC (EDO) to BB+ from BB.

The outlook is stable, mirroring the outlook on Oman.

S&P said it raised the long-term sovereign credit rating on Oman to BB+ from BB and assigned a stable outlook.

“We cap our rating on oil and gas producer Energy Development Oman SAOC (EDO) at the level of the sovereign, because we view EDO as a government-related entity (GRE) that has an integral link with the government, the 100% shareholder of the company,” S&P said in a news release.

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