Ominvest – Corporate and National Revised following Sovereign Action & Recalibration of Oman National Scale; Outlook Remains Negative

Ref: OM0122 1 PCP00-0 1 & OM1221PNC00-01 18 March 2021

Ominve st ’ s Corporate and National Ratings Revised following Sovereign Rating Action and Recalibration of Oman National Scale ; Outlook Remains Negative

Capital Intelligence Ratings (CI Ratings or CI) , today announced that it has lowered the Long- Term Corporate Rating of Oman International Development and Investment Company (Ominvest) to ‘ BB ’ from ‘ BB+ ’ . The Short-Term Corporate Rating remains unchanged at ‘ B ’ . The Outlook on the r atings remains Negative , i n line with the sovereign o utlook . The lowering of the Long-Term Corporate Rating follows the recent downgrade of Oman ’s sovereign ratings to ‘BB/B’/ Negative (from ‘BB+’‘B’/Negative), with Ominvest’s ratin g remaining constrained by the s overeign rating. Despite ongoing diversification efforts, Ominvest’s investments remain largely Oman-based. In addition,…