Ratings agency Fitch has issued its first credit rating and outlook for OQ – a newly created Omani firm that formed as a merger between state upstream arm Oman Oil Company (OOC) and state refiner Orpic (MEES, 20 December 2019). Such ratings normally come at the instigation of the rated firm/entity and suggest that OQ will be looking to raise external finance in the near future.
As is the custom with state-owned firms, OQ is afforded the same rating as the underlying ‘sovereign’, that is to say Oman. (CONTINUED - 396 WORDS)
