For second time in 2023, Moody's upgrades Oman's rating to 'Ba1' with stable outlook

Muscat: Moody's raised the credit rating of Sultanate of Oman ‬⁩for the second time in a row this year to Ba1 with a stable outlook. ‎

The agency attributed this development in the classification to its expectations of a continued decline in public debt and improved indicators of the government’s ability to bear the burden of the state’s public debt, as a result of the efforts made by the government in exploiting additional revenues to pay off the public debt, in addition to controlling spending and improving financial revenues.