Bank Muscat – Outlook Revised to Positive Following Similar Sovereign Action
Content is restricted
Summary
Ref: OM0142 3 PBK 00- 0 1 29 March 2023
Bank Muscat – Outlook Revised to Positive Following Similar Sovereign Action
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook on Banks Muscat’s (BM) Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) to Positive from Stable. The change follows CI Ratings’ recent r evision of Oman’s sovereign ratings Outlook to Positive (from Stable). At the same time, CI has aff irmed BM’s LT FCR and BSR of ‘BB’ and ‘bb ’, respectively. The Bank’s Short-Term Foreign Currency Rating of ‘B’, Core Financial Strength ( CFS ) rating of ‘bbb’ and Extraordinary Support Level ( ESL ) of Moderate have also been affirmed .
The Positive Outlook reflects CI’s expectation that the Bank’s ratings are likely to be upgraded over the next 12…