Muscat Finance – Long-Term National Rating Revised to ‘omA-’ Following Recalibration of Oman National Scale; Outlook Remains Stable

18 March 2021

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Long-Term rating on the Oman National Scale of Muscat Finance S.A.O.G. (MF) to ‘omA-’ from ‘omBBB+’. The Short-Term rating on the same scale has been affirmed at ‘omA2’. The Outlook on the ratings remains Stable.

The change in the Long-Term rating reflects the recalibration of the National Rating Scale for Oman. The rating impact of the deterioration in the operating environment on MF’s credit profile has been partly offset by the recalibration of the national rating scale for Oman, which – taken in isolation – has had a positive impact on national rating grades. This is because national ratings provide a measure of relative creditworthiness within a particular country and are derived in part from international ratings using country-specific maps. The sovereign’s international ratings serve as the reference point for national ratings in Oman and due to the…