Muscat Finance Company ’s Ratings on Oman National Scale Affirmed with a Stable Outlook

Ref: OM02518CRA00-1 1 1 th February 20 20

Muscat Finance Company ’s Ratings on Oman National Scale Affirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) , the international credit rating agency, today announced that it has affirmed the Long-Term and Short-Term ratings on the Oman National Scale of Muscat Finance S.A.O.G. (MF) at ‘omA-’ and ‘omA2’, respectively . The Outlook on the ratings has been maintaine d at Stable. However , the Stable Outlook is very much based on the expectations that ( a) asset quality in terms of non-performing financing ( NPF ) totals has stabilis ed, and (b) aggregate S tage 2 and Stage 3 financing s will remain on a firm declining trend. If this were not to be the case, the rating would come under considerable pressure with a downgrade also a likelihood.

As expected, the continuing difficult economic conditions in Oman have meant that…