Mubasher: Capital Intelligence (CI) adjusted Bank Muscat’s foreign currency ratings on long and short term to A- and A2 from A and A1 respectively.
The international credit rating agency said that it revised the bank’s foreign currency outlook to “Negative” from “Stable” due to the decline in Oman’s sovereign rating of foreign currency in long and short term.
Last August, Fitch downgraded Bank Muscat’s rating in the long term to “BBB+” from “A-“ and National Bank of Oman, Bank Dhofar, Bank Sohar and ahliBank to “BBB” from “BBB +”.
Bank Muscat shares dipped today at 12:20 am Muscat local time by 0.45% to OMR0.44.
