Oman’s Default Risk Sinks to Record Low After Moody’s Upgrade

The cost of default insurance on Oman’s government debt fell to a record low after Moody’s Ratings upgraded the government to investment grade. The country’s bonds rallied.

Credit default swaps for Oman’s debt risk in the next five years fell 3.8 basis points to 86.4 on Friday, taking its weekly slide to almost 13 basis points. The gauge has narrowed on 15 of the past 16 days.