“Moody's” upgraded Oman's rating to BA2 while maintaining a positive outlook, attributing this to stronger financial measurements amid unexpected hydrocarbon revenues.
According to “Moody's”, the hike reflects improvements in Oman's debt burden and debt sustainability measurements during 2022, mainly due to large unexpected gains from oil and gas revenues, which increase the country's resilience to potential future shocks.
Finance Ministry figures showed Oman repaid 1.1 billion riyals ($2.86 billion) of loans in the first quarter, bringing the public debt at the end of March to 16.6 billion riyals.
Source (Al-Arabiya.net Website, Edited)
