Muscat – Omantel is proud to announce that Fitch Ratings has upgraded its Long-Term Issuer Default Rating (IDR) to ‘BBB-’ with a Stable Outlook, marking a significant milestone in the company’s journey as a national and regional digital leader. The upgrade follows Fitch’s decision to raise the Sultanate of Oman’s Long-Term Foreign-Currency IDR to ‘BBB-’ with a Stable Outlook on 8 December 2025.

The rating upgrade reflects Omantel’s strong financial fundamentals, strategic importance to the national economy, and its expanding role as a regional technology enabler. It underscores the company’s resilience, operational excellence, and disciplined execution of a long-term strategy focused on sustainable value creation.

At a national level, the upgrade underscores Omantel’s contribution to Oman Vision 2040, particularly in advancing digital inclusion, supporting economic diversification, and enhancing quality of life across the Sultanate through future-ready digital infrastructure and services.

Fitch views Omantel’s Standalone Credit Profile (SCP) as commensurate with ‘bbb’ peers in Western Europe, citing the company’s strong domestic presence in both post-paid and pre-paid mobile segments, as well as its leading market share across Oman’s fixed and mobile markets. While Omantel operates in a competitive environment alongside other national incumbents, Fitch notes that the company benefits from lower foreign exchange risk compared to many regional peers.

Omantel is rapidly transforming into a regional technology leader. Through strategic investments in next-generation infrastructure, cloud computing, artificial intelligence, Internet of Things, and cybersecurity, the company is enabling innovation and cross-border connectivity - positioning Oman as a hub for digital excellence and reinforcing its role in shaping the future of regional communications.

On this occasion, Eng. Aladdin Baitfadhil Chief Executive Officer of Omantel, stated “This upgrade to investment-grade status is a landmark moment for Omantel and for Oman. It validates our strategic vision and our commitment to customers, shareholders, and society. More importantly, it strengthens our ability to invest in cutting-edge technologies that touch people’s lives every day - from education and healthcare to business and entertainment. As Oman’s leading technology Group, we are proud to contribute to the nation’s prosperity while positioning Omantel as a regional leader in digital innovation and sustainable growth”.

Omantel remains steadfast in its strategy of innovation, sustainability, and customer empowerment. The company’s leadership is built on a foundation of trust, resilience, and forward-looking investments that ensure Oman and the wider region are ready for the opportunities of the digital future.

This rating upgrade is both a recognition of past achievements and a catalyst for continued growth - reinforcing Omantel’s role as the backbone of Oman’s digital transformation and a regional champion of technological progress.

About Omantel

Omantel has succeeded, through the integration of its operations, processes, and extensive expertise in communications and digital technology, in establishing its position as a leading telecommunications company within the Sultanate of Oman and beyond. The company’s innovative approaches have contributed to providing state-of-the-art solutions to consumer and business sectors alike. To achieve the objectives of Oman Vision 2040, Omantel invests in emerging technologies and provides cutting-edge ICT solutions including cloud, AI, smart solutions, and cybersecurity while harnessing its technological capabilities to enhance innovation and leadership in advanced technologies. 

For Media Inquiry:
Muna Al Maamri
Manager of Digital Press & Media
Omantel
Email: muna.maamri@omantel.om