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BankMuscat Assigned 'BBB-/A-3' Ratings; Outlook Stable Jan 04
Standard & Poors, Jan 2004
Abstract
LONDON (Standard & Poor's) Jan. 6, 2004--Standard & Poor's Ratings Services said today it assigned its 'BBB-' long-term and its 'A-3' short-term counterparty credit and certificate of deposit ratings to Oman-based BankMuscat S.A.O.G. The outlook is stable. These are the first full interactive ratings assigned to an Omani bank by Standard & Poor's. At the same time, Standard & Poor's withdrew its 'BBpi' rating on the bank. 'The ratings on BankMuscat reflect the bank's dominant commercial position in Oman, good earnings profile, and improving asset quality and capitalization,' said Standard & Poor's credit analyst Emmanuel Volland. 'They also reflect controlling ownership by the Government of Oman. Standard & Poor's considers that the bank's importance to the economy, its ownership structure,...
Companies mentioned in this report are: BankMuscat S.A.O.G.
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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