National Finance Company – National Ratings Affirmed; Outlook Remains Positive

Ref: OM0302 2 CRA00-01 16 November 202 3

Nat ional Finance Company – National Rating s Affirmed ; Outlook Remain s Positive

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long- and Short-Term issuer ratings on the Oman National Scale assigned to National Finance Company SAOG (NFC) at ‘ omA -’ and ‘omA2’, respectively . The Outlook on the ratings remains Positive .

NFC’s ratings are driven by its status as the largest non-bank financing institution (NBFI) in Oman, the Company’s good management team, and ownership by financially strong Ominvest . Credit factors supporting the ratings include the Company’s sound capitalisation, wide and stable lender base, sound debt repayment and service ability, and the substantial level of unutilised but committed lines. The main credit challenges are the small Omani market , strong competition from banks (large r and with cheaper funding ), and …