Moody’s changes Omani banks to negative

Moody's Investors Service said it changed the outlooks on the A1 senior unsecured debt and deposit ratings of Bank Muscat SAOG, the A2 deposit ratings of Oman Arab Bank (SAOC) and the A3 deposit ratings of Bank Dhofar SAOG, National Bank of Oman SAOG and HSBC Bank Oman SAOG to negative from stable.

Concurrently, all bank ratings were affirmed.

Moody’s said the negative outlook was driven by its assessment that the government's capacity to support the banks is weakening, as implied by the recent change in outlook on the government bond rating to negative from stable.

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