Oman Arab Bank – Outlook Revised to Positive Following Similar Sovereign Action
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Summary
Ref: OM007 2 3 PBK 00- 0 1 29 March 2023
Oman Arab Bank – Outlook Revised to Positive Following Similar Sovereign Action
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Ou tlook on Oman Arab Bank ’ s (OAB) Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) to Positive from Stable. The change follows CI Ratings ’ recent revision of Oman ’ s sovereign rating s outlook to Positive (from Stable) . The Bank ’ s LT FCR and BSR have been affirmed at ‘ BB ’ and ‘ bb ’ , respectively . At the same time, CI Ratings has affirmed OAB ’ s Short-Term Foreign Currency Rating ( ST FCR ) of ‘ B ’ , Core Financial Strength (CFS) rating of ‘ bbb- ’ and Extraordinary Support Level ( ESL ) of Moderate.
The Positive Outlook reflects CI ’ s expectation that the Bank’s ratings are likely to be upgraded over the…