by Amruth Sundarkumar | May 16, 2023 | Credit Ratings, Sovereign Bonds, Sovereigns
Oman was upgraded to Ba2 from Ba3 by Moody’s citing improvements in its debt burden and debt affordability metrics during 2022. Moody’s noted the improvement was mainly on the back of a large oil and gas revenue windfall. Whilst their fiscal metrics...
by Amruth Sundarkumar | Dec 21, 2022 | Sovereign Bonds, Sovereigns
Oman is expecting to see an OMR 1.3bn ($3.4bn) budget deficit in 2023, equivalent to about 3% of GDP after seeing an expected surplus this year thanks to higher oil prices. Oman expects revenues of OMR 11.7bn ($30.4bn) and expenditures to be at OMR 13bn ($33.8bn) next...
by Amruth Sundarkumar | Nov 28, 2022 | Credit Ratings, Sovereign Bonds, Sovereigns
Oman was upgraded to BB from BB- by S&P upon the nation’s fiscal and external positions “benefiting from government reforms and higher oil prices”. The government has reduced reliance on oil receipts to its budget, inline with its medium-term...
by Amruth Sundarkumar | Aug 16, 2022 | Sovereign Bonds, Sovereigns
Oman has been upgraded by Fitch from BB- to BB, with a stable outlook. This was prompted by a significant improvement in the Middle Eastern sovereign’s fiscal position, mainly due to a huge jump in oil and gas revenues. It posted a budget surplus of OMR 784mn ($2bn)...
by Amruth Sundarkumar | Aug 8, 2022 | Sovereign Bonds, Sovereigns
Oman posted a budget surplus of OMR 784mn ($2bn) for H1 2022, primarily due to higher revenues from oil and natural gas. The Gulf nation’s revenues jumped more than 54% in Q2 to OMR 6.7bn ($17.4bn), with oil and gas revenues contributing the most at OMR 3.2bn ($8.3bn)...
