Oman’s campaign to improve its fiscal position recently reached a major goal, receiving its first investment-grade rating since being junked in 2019 (MEES, 8 March 2019). S&P Global upgraded the sultanate’s sovereign credit rating from BB+ to BBB- on 27 September.
The other two major agencies Moody’s and Fitch Ratings still rate Oman one notch below investment grade. Moody’s last changed its outlook to positive on 29 August while keeping its rating at Ba1, while Fitch has yet to update its rating since it affirmed BB+ on 24 May. S&P was the first of the agencies to junk Oman back in 2017 (MEES, 24 November 2017), with Fitch and Moody’s only following suit in 2018 and 2019 respectively (MEES, 8 March 2019). (CONTINUED - 847 WORDS)
