Moody’s cuts Omani corporates

Moody's Investors Service said it downgraded the ratings of eight non-financial corporates domiciled in Oman.

The action is a direct consequence of the downgrade of Oman on March 5, to Ba2 from Ba1 with a stable outlook, the agency said.

Moody's downgraded the ratings of the following eight corporates to Ba2 from Ba1 with stable outlooks because of their concentration of cash flows and operations in Oman: Dhofar Power Co. SAOC, Majan Electricity Co. SAOC, Mazoon Electricity Co. SAOC, Muscat Electricity Distribution Co. SAOC, Oman Electricity Transmission Co. SAOC, Oman Power and Water Procurement Co. SAOC, Rural Areas Electricity Co. SAOC (Tanweer) and Oman Telecommunications Co. SAOG (Omantel).

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.