Moody's upgrades Oman's outlook to 'positive'

Muscat: Moody’s agency has raised the outlook on the credit rating of the Sultanate of Oman from stable to positive. It affirmed the rating at Ba3.

 Oman News Agency said in a statement: “Moody's Agency raised the future outlook for the Sultanate of Oman from stable to positive, with an emphasis on the rating rate at Ba3. It explained that the modification of the future outlook reflects the extent of the government's commitment to implementing government measures to control financial conditions, in addition to benefiting from the rise in oil prices in meeting its obligations towards public debt during 2022 and reducing its size.”