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Oman: Further ratings downgrade ratchets up pressure on Muscat

Moody’s Investors Service announced a further sovereign rating downgrade on 16 March, pushing Oman’s long-term issuer and senior unsecured bond ratings from Baa2 down to Baa3; the ratings agency also set its outlook at negative. The moves places Oman in a precarious position, just one place above non-investment grade (or junk status) under Moody’s system. Rival agency Standard & Poor’s dropped Oman into junk territory in May 2017. Fitch Ratings has the sultanate just above junk level.

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