Omantel has announced that Fitch Ratings has upgraded its Long-Term Issuer Default Rating IDR to BBB- with a Stable Outlook, marking a key milestone in the companys growth as a national and regional digital leader. The upgrade follows Fitchs decision on 8 December 2025 to raise the Sultanate of Omans Long-Term Foreign-Currency IDR to the same level.
The rating upgrade reflects Omantels strong financial fundamentals, strategic importance to Omans economy, and its expanding role as a regional technology enabler. Fitch highlighted the companys resilience, operational excellence, and disciplined execution of long-term strategies focused on sustainable value creation.
At a national level, the upgrade underscores Omantels contribution to Oman Vision 2040, particularly in advancing digital inclusion, supporting economic diversification, and enhancing quality of life through future-ready digital infrastructure and services. Fitch also noted Omantels strong domestic presence in post-paid and pre-paid mobile segments, leading market share across fixed and mobile markets, and lower foreign exchange risk compared to regional peers.
