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  • 03-10-21

    S&P Global Ratings alter Oman’s credit outlook to positive from stable

    (MENAFN)S&P Global Ratings amended Oman’s credit outlook to positive from stable on the anticipation that the sultanate’s reform program is going to control the boosts in government debt in the next years.

    Oman’s credit rating was affirmed at ‘B+/B’. S&P downgraded Oman's long-term sovereign credit rating to B+ from BB- in October last year attributable to the estimated material decline of public sector finances.

    Dubai-based credit analyst Zahabia Gupta stated that “The positive outlook indicates that we consider that Oman’s reform program, and the higher oil prices relative to 2020, will narrow fiscal deficits and slow the increase in net government debt over the next three years.”

    In addition; S&P said it could increase its ratings on Oman in the coming year if supposed fiscal reforms and stronger economic enlargement sustainably decrease fiscal imbalances and the stock of net government debt beyond its current predictions.

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