S&P revises Oman’s outlook to positive, affirms ‘BB+/B’ ratings


Muscat: The Ministry of Finance announces that Credit ratings agency S&P on Friday revised its outlook on Oman to positive from stable and affirmed the credit rating at “BB+”.

In its first credit rating report for the Sultanate of Oman for the year 2024, the agency attributed the continuous improvement in the state’s public financial performance indicators and the achievement of financial surpluses, in addition to government efforts to reduce net public debt.

S&P Global Ratings pointed out that the continued implementation of measures aiming at strengthening fiscal position and improving growth, in addition to reducing public debit will lead to an improvement in the credit rating. 

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