Omantel has secured an investment-grade credit rating after Fitch Ratings upgraded the company’s Long-Term Issuer Default Rating to ‘BBB-’ with a Stable Outlook. The upgrade follows Fitch’s recent decision to raise Oman’s sovereign foreign-currency rating to the same level, reflecting the close alignment between Omantel’s credit profile and the national economy.
Fitch cited Omantel’s strong financial fundamentals, operational resilience, and strategic importance to Oman’s economic and digital development. The agency highlighted the company’s disciplined execution of long-term strategies focused on sustainable value creation, alongside its leading market position across fixed and mobile telecommunications services.
The upgrade also underscores Omantel’s role in supporting Oman Vision 2040, particularly in advancing digital inclusion, economic diversification, and quality of life through robust digital infrastructure. Fitch noted Omantel’s strong domestic presence in both prepaid and postpaid mobile segments, its leadership across fixed and mobile markets, and relatively low foreign exchange risk compared to regional peers.
In recent years, Omantel has expanded beyond traditional telecom services, investing in next-generation infrastructure, cloud computing, artificial intelligence, Internet of Things, and cybersecurity. These initiatives are reinforcing Oman’s position as a regional digital hub and strengthening Omantel’s role as a technology enabler across multiple sectors.
Omantel CEO Eng. Aladdin Baitfadhil said the rating upgrade validates the company’s strategic direction and enhances its ability to invest in advanced technologies that support customers, businesses, and national development.
