Bank Muscat – Outlook Revised to Stable

Bank Muscat – Outlook Revised to Stable

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook for the Long-Term Foreign Currency Rating (LT FCR) and the Bank Standalone Rating (BSR) of Bank Muscat (BM) to Stable from Negative . This follows CI Ratings’ recent revision of the outlook for Oman’s sovereign rating to Stable from Negative.

At the same time, CI Ratings has affirmed BM’s LT FCR and Short-Term Foreign Currency Ratin g at ‘BB’ and ‘B’, respectively. The Bank’s BSR of ‘bb’, Core Financial Strength (CFS) rating of ‘bbb’ and Extr aordinary Support Level (ESL) of Moderate were also affirmed . As BM’s LT FCR remains set at the same level as Oman’s sovereign rating of ‘BB’, the rating is closely correlated with the sovereign’s creditworthiness. Any improvement or deterioration in Oman’s LT FCR and/or outlook will have a corresponding effect on BM’s…