Oman Arab Bank – Ratings Affirmed with a Positive Outlook
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Ref: OM007 2 3 CRA00- 0 1 3 0 May 20 2 4
Oman Arab Bank – Ratings Affirmed with a Positive Outlook
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long -Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Oman Arab Bank (OAB) at ‘ BB + ’ and ‘B’, respectively. At the same time, CI Ratings has affirmed OAB’s Bank Standalone Rating (BSR) of ‘bb + ’, Core Financial Strength (CFS) rating of ‘bbb-’ and Extraordinary Support Level (ESL) of Moderate. The Outlook for the LT FCR and BSR is Stable.
As the Bank’s LT FCR is at the sovereign level, the ESL of Moderate does not result in any uplift from the BSR. In addition, given the strong correlation between the Bank and the sovereign’s ratings, any improvement or deterioration in Oman’s LT FCR and/or outlook would have a corresponding effect on OAB’s…