National Bank of Oman’s Ratings Affirmed

Ref: OM006 20 CRA00- 0 1 1 8 May 20 2 1

National Bank of Oman’s Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long -Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of National Bank of Oman (NBO) at ‘BB’ and ‘B’, respectively. At the same time, CI Ratings has affirmed NBO’s Bank Standalone Rating (BSR) of ‘bb’, Core Financial Strength (CFS) rating of ‘bbb-’ and Extraordinary Support Level (ESL) of Moderate. The Outlook for the LT FCR and BSR rem ains Negative, which is in line with the outlook for Oman’s sovereign rating.

The ESL assessment does not result in any uplift for the Bank’s LT FCR because the BSR is already at the sovereign level. The ESL is underpinned by the Bank’s position as the third largest bank in the country with a sizeable government…