Oman's bonds tumble as Fitch cuts credit rating to junk

Fitch's move leaves Moody's as the only firm to rate Oman as investment grade, a level key for keeping a country's debt in the major indexes tracked by fund managers.

  
Omani Riyal. Image for illustrative purposes.

Omani Riyal. Image for illustrative purposes.

Getty Images

LONDON- Oman's dollar-denominated government bonds fell on Tuesday after Fitch became the second major rating agency to cut the country to 'junk'.

Fitch's move leaves Moody's as the only firm to rate Oman as investment grade, a level key for keeping a country's debt in the major indexes tracked by fund managers.

Oman's 2023-maturing dollar bond fell 1.5 cents in the dollar, while its slightly shorter-term 2021 bonds dropped almost 1 cent. 

(Reporting by Marc Jones; editing by Josephine Mason) ((marc.jones@thomsonreuters.com; +44 (0)207 542 9033; Reuters Messaging: marc.jones.thomsonreuters.com@reuters.net Twitter @marcjonesrtrs))

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