S&P cuts Oman Electricity Transmission

Standard & Poor’s said it lowered its corporate credit rating on Oman Electricity Transmission Co. to BBB- from BBB.

At the same time, S&P lowered its issue rating on the notes issued by orphan special-purpose vehicle Lamar Funding Ltd. to BBB- from BBB.

The one-notch downgrade of Oman Electricity Transmission follows the lowering of the sovereign rating by two notches on Feb. 17.

Despite the downgrade, S&P said the stand-alone credit profile on Oman Electricity Transmission is unchanged at bbb-.

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