Fitch Upgrades Omantel to ‘BB+’; Stable Outlook

Fitch Ratings has upgraded Oman Telecommunications Company S.A.O.G.’s (Omantel) Long-Term Issuer Default Rating (IDR) to ‘BB+’ from ‘BB’. The Outlook on the IDR is Stable. We have also affirmed the ‘BB+’ senior unsecured ratings on its USD600 million and USD900 million notes maturing in 2023 and 2028 respectively. The Recovery Rating is ‘RR4’.