Ratings of Ahli Bank (Oman) Affirmed

Ratings of Ahli Bank (Oman) Affirmed

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 Ahli Bank (AB) in Oman at ‘BB+’ and ‘B’, respectively. The Bank’s LT FCR and ST FCR are currently set at the same level as that of the Omani sovereign (‘BB+’/’B’/Negative). The Bank Standalone Rating (BSR) of ‘bb’ and Core Financial Strength (CFS) rating of ‘bbb-’ are also affirmed. The Outlook for AB’s LT FCR and BSR remains Negative, in common with all other Omani banks.

The Bank’s LT FCR is set one notch above the BSR to reflect the moderate likelihood of official extraordinary support given the significant direct and indirect government shareholding, as well as the government’s strong track record of providing assistance to banks in need. The BSR is derived from a CFS rating of ‘bbb-’…