Oman Raised to Investment Grade by Moody’s as Debt Burden Falls

Oman has received its second upgrade to investment grade in less than a year, after Moody’s Investors Service raised its sovereign rating from junk.

Oman’s rating was lifted by one notch to Baa3 — the lowest in investment grade — on Friday, with the agency citing an improvement in the Gulf country’s debt profile. The outlook was revised to stable from positive, signaling a change isn’t expected in the next 12 months.