Fitch Ratings upgrades Oman Re's outlook

Fitch Ratings has affirmed its "BB+" financial strength rating on Oman Re. The outlook on this rating has moved from negative to stable.

The rating reflects the good performance of the Omani reinsurer, reflected in its adequate level of capitalization and its diversified investment portfolio.

The upward revision of the outlook is justified by expected changes in key fiscal metrics and easing external financing pressures.