Omantel holds a Corporate Family Rating (CFR) of Ba1 from Moody’s , and BB+ from Fitch Ratings , both with a positive outlook. Notably, Omantel’s corporate rating of BB+ aligns with the Sovereign rating of the Sultanate of Oman, as assigned by Fitch. These investment-grade ratings underscore the Company’s robust intrinsic profile, leading market position, strong financial liquidity, and stable, recurring dividend income from Zain.

Despite operational challenges, Omantel’s credit ratings have remained resilient. The Company continues to prioritise cost optimisation, service diversification, enhancement of customer experience, and the adoption of emerging technologies. The improved ratings from Moody’s and Fitch serve as a strong endorsement of Omantel’s forward-looking strategies, reinforcing its position as a key player in the telecommunications sector. This recognition reflects the Company’s strategic execution, resilience, and commitment to maintaining a competitive edge in the market.

Cost Optimisation and Debt Management Strategy

Omantel has maintained a disciplined approach to cost efficiency, focusing on debt reduction, automation, and operational streamlining. A milestone in 2024 was the successful issuance of a USD 500 Mn. USD-denominated Sukuk, which received strong investor interest and was significantly oversubscribed, demonstrating market confidence in Omantel’s credit strength, strategic direction, and long-term growth potential.

This achievement not only reinforced Omantel’s position in global capital markets but also showcased the Company’s ability to diversify its funding sources while aligning with Islamic finance principles. The Sukuk’s success served as a testament to the trust Omantel has earned from both regional and international investors, reflecting its governance, financial management, and clear value proposition.

At the same time, Omantel continued to deliver on cost-efficiency targets through automation of network operations, asset monetisation, and renegotiation of supplier contracts, contributing to improved profitability. The ongoing shift toward digital and enterprise services further enhanced margins, as cloud, cybersecurity, and B2B solutions offered higher returns compared to legacy telecom offerings.