Fitch revises Bank Muscat view to stable

Fitch Ratings said it revised the outlook on Bank Muscat SAOG's to stable from negative and affirmed the long-term issuer default rating at BB-.

The rating actions follow the similar action on Oman's sovereign rating on Dec. 20, Fitch said.

“Fitch has also revised its outlook on the Omani operating environment score to stable from negative. The outlook revision reflects our view that pressures on the operating environment from the pandemic and lower oil prices have eased sufficiently, and that despite these pressures, the bank's financial metrics have been resilient in the past quarters,” the agency said in a press release.

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