Nov 10 (Reuters) - Standard and Poor’s lowered its long-term foreign and local currency sovereign credit rating on Oman to ‘BB’ from ‘BB+’.
Oman's ratings are constrained by its dependence on the hydrocarbon sector, despite efforts to diversify, S&P said on Friday. (bit.ly/2AAWd3U)
In July, Moody’s downgraded Oman’s long-term bond rating to Baa2 from Baa1, citing the country’s limited-than-expected progress towards addressing “structural vulnerabilities”. (Reporting by Shashwat Awasthi in Bengaluru; Editing by Shounak Dasgupta)