Fitch affirms Oman's rating at "BB+" with a stable outlook | ZAWYA MENA Edition:
Fitch Ratings has affirmed Oman’s long-term foreign-currency issuer default rating (IDR) at 'BB+' with a stable outlook.
The rating took into consideration the country’s “undiversified economy, high fiscal and external deficits and debt ratios against relatively high GDP-per-capita and other strong structural features relative to 'BB' category peers,” Fitch said in a statement.
“Oman's sovereign external asset position remains for now stronger than other 'BB' category sovereigns, supporting the government's financing flexibility,” it stated.
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