S&P Upgrades Oman’s Credit Rating to ‘BBB-‘ with Stable Outlook

MUSCAT, Oman, Oct. 2, 2024 /PRNewswire/ — Standard & Poor’s (S&P) has upgraded Oman’s credit rating to ‘BBB-‘ from ‘BB+’ with a stable outlook, driven by improvements in the country’s financial performance. This marks Oman’s return to investment-grade status after nearly seven years, during which its rating dropped due to the decline in global oil prices and COVID-19.

Ministry of Finance Oman

S&P highlighted that the…