Mohammed Al Barwani New Sukuk Issuance SPC – Issue Rating Affirmed at ‘omBBB’

11 June 2026

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the issue rating on the Oman National Scale assigned to the OMR30.1mn up to 5-year Wakala sukuk issued by Mohammed Al Barwani New Sukuk Issuance SPC (the Issuer) at ‘omBBB’. The sukuk was issued in June 2023. The Outlook on the rating remains Stable. The Issuer is a sole proprietor company incorporated in Oman by Mohamed Al Barwani LLC Group (MB LLC or the Obligor) for the purpose of issuing the sukuk certificates.

The overall sukuk rating is driven by CI Ratings’ assessment of the fundamental credit strength and general repayment capacity of MB LLC, as the Issuer’s ability to fulfil its payment obligations to certificate holders will ultimately depend on MB LLC honouring its payment obligations to the Issuer under the transaction documents. MB LLC’s payment obligations under the transaction documents constitute unsecured and unsubordinated obligations of the Obligor…