Oman Arab Bank - LT FCR Lowered Following Sovereign Rating Action; Outlook Remains Negative

Overview

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has lowered the Long-Term Foreign Currency Rating (LT FCR) of Oman Arab Bank (OAB) to 'BB' from 'BB+', while maintaining the Short-Term Foreign Currency Rating (ST FCR) at 'B', following the recent downgrade of Oman's sovereign issuer ratings to 'BB'/Negative (from 'BB+'/Negative). CI Ratings has also affirmed OAB's Bank Standalone Rating (BSR) at 'bb', Core Financial Strength (CFS) rating at 'bbb-' and Extraordinary Support Level of Moderate. The Outlook for the LT FCR and BSR remains Negative.

Attachments

• Rating Announcement (CRA)
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