Oman Arab Bank – Outlook Revised to Stable from Negative
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Ref: OM007 2 2 PBK 00- 0 1 29 Ma rch 2022
Oman Arab Bank – Outlook Revised to Stable from Negative
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the outlook on Oman Arab Bank’s (OAB) Long -Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) to Stable from Negative . This follows CI Ratings’ recent revision of the outlook for Oman’s sovereign rating to Stable from Negative.
At the same time, CI Ratings has affirmed OAB’s LT FCR and Short-Term Foreign Currency Rating (ST FCR) at ‘ BB’ and ‘B’, respectively . The Bank’s BSR of ‘bb’, Core Financial Strength (CFS) rating of ‘bbb – ’ and Extraordinary Support Level (ESL) of Moderate were also affirmed . A s OAB’s LT FCR remains set at the same level as Oman’s sovereign rating of ‘BB’, the rating is closely correlated with the sovereign’s…