MUSCAT: International credit ratings agency S&P revised its outlook on Oman to positive from stable.
The agency also affirmed its rating for the sultanate at ‘BB+/B’.
“The government’s balance sheet will strengthen and the economic reform program could lead to faster-than-expected deleveraging in many state-owned enterprises, without dampening economic growth outcomes,” S&P said in a statement.
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Meanwhile, in a statement issued, the Ministry of Finance said: “Standard & Poor’s has revised the outlook for Oman to positive and affirms the credit rating at “BB+” thanks to the continuous improvement in indicators of state public fiscal performance, posting surpluses, Government efforts to reduce net public debt.”
