DUBAI: Moody's cut Oman's credit rating to junk with a negative outlook, citing fiscal challenges at a time of moderate oil prices in a move set to keep its borrowing costs high. Moody's said in a statement on Tuesday that Oman could face external vulnerability as wide fiscal deficits will contribute to wide current account deficits, perpetuating Oman's dependence on steady inflows of external financing. - Reuters

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