United Finance Company S.A.O.G. – Ratings on the Oman National Scale Affirmed with Stable Outlook

14 May 2026

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long- and Short-Term issuer ratings on the Oman National Scale of United Finance Company S.A.O.G. (UFC or the Company) at ‘omBBB+’ and ‘omA2’, respectively. The Outlook on the ratings is Stable.

The ratings are supported by UFC’s comfortable leverage metrics (albeit this partially suppresses profitability), the well-established banking panel, satisfactory debt serviceability aided by enhanced unutilised limits, and improving profitability. While a cautious stance on new credit approvals has helped to improve asset quality, it has also weighed on UFC’s market share in the already small finance company segment in Oman, a segment that also faces intense competition from local banks. Additional constraining factors for the ratings are a degree of concentration in bank funding lines and the narrowness of UFC’s business model due to regulatory constraints. All Omani…