Moody's cuts Oman's credit rating for first time
Moody’s Investors Service has downgraded the credit rating of Oman, the poorest Gulf Arab country on the basis of economic output per person, for the first time since issuing its initial rating in 1999. Moody’s cut Oman’s rating by two levels to A3, citing the negative impact of lower oil prices on government finances, economic performance and balance-of-payments.