Sunday 14, May 2017 by Nabilah Annuar

S&P Global Ratings lowers its rating on Oman to 'BB+/B' from 'BBB-/A-3'

The downgrade reflects S&P’s view that the Omani government's heightene   external financing needs have resulted in the economy's large net external asset position (external assets exceeding external liabilities) declining to a level insufficient to mitigate the risk from its volatile export revenue base.

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