Oman brushed off recent ratings troubles as it pulled in almost US$7bn of orders for a seven-year sukuk transaction, its first trade since a one-notch S&P downgrade on May 12. "Oman defied the sceptics," said Jean-Marc Mercier, global co-head of debt capital markets at HSBC, referring to Oman being dragged into high-yield territory with the ratings agency (BB+).
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