Energy Development Oman receives a ‘BB/Stable’ rating from the Fitch Credit Rating Agency, the same credit rating of the Sultanate.
Fitch also assessed EDO’s Standalone Credit Profile (SCP) at ‘bbb’, supported by large-scale oil and gas operations and low advantage.
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. Furthermore, the rating increases transparency and comparability for debt investors and capital market participants active in the Sultanate of Oman.

Commenting on the credit rating, Sultan bin Ali al Mamari, Chief Financial Officer – of EDO, stated, “This assessment by Fitch is a recognition of EDO’s financial strengths as well as the prudent fiscal management of the economy by the Omani Government. In addition, 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.

Fitch views EDO’s socio-political implications of default as ‘Strong’. The oil and gas sector represents a significant part of the Omani economy, with EDO’s Block 6 concessions accounting for a large portion of the nation’s total oil and gas reserves. Furthermore, EDO in one of the largest corporate employers in Oman.
Fitch also noted that EDO has a high degree of cash flow besides having new outstanding debts in the short term.