Moody’s assigns Baa3 to Oman program

Moody's Investors Service said it assigned a provisional Baa3 senior unsecured foreign currency rating to the new global medium-term note program by the Government of Oman.

The rating mirrors Oman's long-term issuer rating of Baa2 with negative outlook.

According to the draft base prospectus available to Moody's at the time of the rating committee, the notes to be issued under the new global medium-term note program will constitute direct, unconditional and unsecured obligations of Oman and will rank pari passu with all other senior unsecured debt obligations of the issuer.

Proceeds are intended to be used for general budgetary purposes.

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