National Finance Company – Oman National Scale Ratings Affirmed with a Stable Outlook

Ref: OM03020CRA00-01 16 November 2021

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

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Corporate Rating on the Oman National Scale of National Finance Company SAOG (NFC) at ‘ omA-’, and the Short-Term Corporate Rating on the same scale at ‘omA2’. The Outlook on the ratings remains Stable.

Credit strengths that support the rating include NFC’s status as the largest non-bank financing company (NBFC) in Oman, a good management team , and strong and supportive Ominvest ownership. The Company is soundly capitalised, well managed and has a well-diversified funding base from Omani and foreign banks. The main credit challenge for all Omani financial institutions has however been what was until recently an increasingly difficult operating environment due to lower oil prices and the impact of Covid – 19. More…