Bank Muscat – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Bank Muscat (BM or the Bank) at ‘BBB-’ and ‘A3’, respectively. The Outlook for the LT FCR remains Positive. At the same time, CI Ratings has affirmed BM’s Bank Standalone Rating (BSR) of ‘bbb-’, Core Financial Strength (CFS) rating of ‘bbb’ and Extraordinary Support Level (ESL) of High. The BSR Outlook remains Stable.

BM’s LT FCR is not uplifted for the High ESL, as its BSR is at Oman’s sovereign rating level. The ESL of High takes into account the Omani sovereign’s improved capacity to provide extraordinary support, and also takes into consideration BM’s systemic importance as the country’s largest bank and its sizeable government ownership (direct and indirect). BM remains the only bank in Oman to be designated a domestic systemically important bank (D-SIB). It enjoys a…