Ahli Bank (Oman) – LT FCR Low ered Following Sovereign Rating Action; Outlook Remains Negative

Ref: OM0 17 2 1 PBK 00- 0 1 11 March 2021

Ahli Bank (Oman) – LT FCR Low ered Following Sovereign Rating Action; Outlook Remains Negative

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has lowered Ahli Bank Oman’s (AB) Long-Term Foreign Currency Rating (LT FCR) to ‘BB’ from ‘BB+’, and affirmed the Short-Term Foreign Currency Rating at ‘B’. The change follows the recent one notch downgrade of Oman’s sovereign LT FCR to ‘BB’/Negative (from ‘BB+’/Negative). CI also affirmed AB’s Bank Standalone Rating (BSR) of ‘bb‘, Core Financial Strength (CFS) rating of ‘bbb-’ and Extraordinary Support Level (ESL) of Moderate. The Negative Outlook for AB’s LT FCR and BSR was also maintained. The Bank’s FCRs and Outlook are currently set at the same level as Oman’s sovereign rating and remain closely correlated with the sovereign’s creditworthiness.

The recent downgrade of…