Bank Muscat’s Ratings Affirmed with a Stable Outlook

Ref: OM01421 CRA00- 0 1 17 May 202 2

Bank Muscat’s 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.

The Bank’s BSR is derived from a CFS rating of ‘bbb’ and an O perating Environment Risk Anchor (O PERA ) of ‘bb-’, but remains constrained by Oman’s sovereign ratings (‘BB’/‘B’/Stable). OPERA denotes moderate risk and takes into account the improving macroeconomic environment due to higher oil prices.

Key credit strengths supporting…