Ref: OM0142 3 CRA00- 0 1 9 May 202 4
Bank Muscat – Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the L ong- Term Foreign Currency Rating (LT FCR) and Short- Term Foreign Currency R ating ( ST FCR) of Bank Muscat (BM) at ‘BB + ’ and ‘B’ , respectively. At the same time, CI Ratings has affirmed BM’s Bank Standalone Rating (BSR) of ‘bb + ’, Core Financial Strength (CFS) rating of ‘bbb’ , and Extraordinary Support Level (ESL) of Moderate. The Outlook for both the LT FCR and BSR is Stable.
BM’s LT FCR is not uplifted for the Moderate ESL as its BSR is at the same level as Oman’s sovereign rating ( ‘BB+’ / Stable ) . Moreover, given the strong correlation between the Bank and the sovereign’s ratings, any improvement or deterioration in Oman’s LT FCR and/or outlook will have a corresponding effect on BM’s…