Moody's upgrades Oman rating to Ba2, keeps positive outlook

Moody's Investor Service said on Monday it upgraded Oman's credit rating one notch to Ba2, citing stronger fiscal metrics on the back of a revenue windfall from hydrocarbons.

"The upgrade reflects the improvements in Oman's debt burden and debt affordability metrics during 2022, mainly as a result of the large oil and gas revenue windfall, which increase the sovereign's resilience to potential future shock," Moody's said, maintaining a positive outlook.