S&P changes Oman Electricity to negative

S&P said it revised its outlook on Oman Electricity Transmission Co. to negative from stable and affirmed its BBB- long-term corporate credit rating.

The agency also affirmed its BBB- issue rating on the notes issued by orphan special-purpose vehicle Lamar Funding Ltd. (LFL).

S&P said the outlook revision follows a similar action on Oman on Nov. 11. The agency continues to factor into the ratings on Oman Electricity the continued extremely high likelihood of extraordinary government support to the company, if needed.

S&P considers, however, that a downgrade of Oman, if one were to occur, would indicate a weakened ability to support Oman Electricity.

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