National Finance Company – National Ratings Affirmed with a Stable Outlook

Ref: OM0302 1 CRA00-01 17 November 202 2

Nat ional Finance Company – National Rating s Affirmed with a Stable Outlook

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 Stable.

NFC’s ratings are driven by its status as the largest non-bank financing institution (NBF I ) in Oman, the Company’s good management team, and strong and supportive Ominvest ownership. Credit factors supporting the ratings a lso include NFC’s sound capitalisation, wide lender base, sound debt maturity profile and substantial level of unutilised but committed lines. The main credit challenges are the narrowness of NFC’s business model , which reflects t he regulatory limits on all NBFI s on both sides of the balance sheet, the…