Fitch upgrades Omantel’s credit rating, citing high oil prices, reforms

The leading Omani telecommunications company has grown its customer base and agreed to sell its towers to a British firm, but a new cell service provider in the Gulf state could provide some competition.
A picture taken on June 21, 2017, shows the Omantel Tower in the Omani capital, Muscat.
A picture taken on June 21, 2017, shows the Omantel Tower in the Omani capital, Muscat. - MOHAMMED MAHJOUB/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

Oman’s state-owned telecommunications company, Omantel, received a credit rating upgrade from Fitch Ratings today.

The New York-based credit rating agency upgraded Omantel to “Stable” from its previous outlook of “Negative,” according to a press release. 

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