National Bank of Oman – Outlook R evised to Positive Following Similar Sovereign Action
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Ref: OM006 2 3 PBK 00- 0 1 29 March 2023
National Bank of Oman – Outlook R evised to Positive Following Similar Sovereign Action
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook on National Bank of Oman ’ s (NBO) Long-Term Foreign Currency Rating (LT FCR) and Bank Stand alone Rating (BSR) to Positive from Stable . The change follows CI Ratings ’ recent revision of Oman ’ s sovereign ratings O utlook to Positive (from Stable). At the same time, CI has affirmed NBO ’ s LT FCR and BSR of ‘ BB ’ and ‘ bb ’ , respectively . The Bank ’ s Short-Term Foreign Currency Rating (ST FCR) of ‘ B ’ , Core Financial Strength ( CFS ) rating of ‘ bbb- ’ and Extraordinary Support Level ( ESL ) of Moderate have also been affirmed .
The Positive Outlook reflects CI ’ s expectation that the Bank ’ s ratings are likely to be…