Oman
Fitch Ratings Upgrades EDO Standalone Credit Profile at “bbb”

Muscat: Energy Development Oman (EDO) has announced that it received a “BB” long-term credit rating, with stable outlook, from Fitch Rating firm, on par with the Sultanate of Oman sovereign rating.
Fitch also assessed EDO’s Standalone Credit Profile (SCP) and valued it investment-wise as “bbb”, which is supplemented by EDO’s volume of assets and a decline in the company’s operations’ cost.
The inaugural assessment by Fitch Ratings is another milestone in EDO’s development, as it serves to enhance the status of Oman’s hydrocarbon and alternative energy sectors as attractive spheres for investment and financing. Further, the rating increases transparency and comparability for debt investors and capital market participants active in Oman.
Commenting on the credit rating, Sultan bin Ali Al Ma’amari, CFO of EDO, said, “this assessment by Fitch is a recognition of EDO’s financial strength as well as the prudent fiscal management of the economy by the Omani government. The rating provides a firm platform to attract multiple forms of investment into the country.”
“As a landmark achievement for EDO, this is an important step towards our objective of leading the energy transition in alignment with Oman’s Vision 2040,” the CFO added.
In the report, Fitch Ratings outlined the key drivers that influenced EDO’s rating. These included the Sovereign rating, EDO’s strong financial profile, supportive scale of operations, mature oil reserves base, favorable unit economics, and improving ESG footprint. In terms of liquidity and debt structure, Fitch Ratings emphasised EDO’s strong liquidity and no short-term debt.
-
Banking & Finance1 week ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
Renewables1 month ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Bahrain6 days ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, May 25
-
Leaders Speak2 months ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
OER Magazines1 month ago
OER, May 2025
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Banking & Finance2 months ago
Alizz Islamic Bank Partners with Al Tawasul Institute for Specialised Training Programme to Empower Job Seekers with Hearing Impairments