S&P lowers Oman Electricity

S&P said it lowered the long-term corporate credit rating on Oman Electricity Transmission Co. to BB from BB+.

The outlook is stable.

The agency also lowered the rating on the notes issued by orphan special-purpose vehicle Lamar Funding Ltd. to BB from BB+.

S&P said the action follows the downgrade of Oman on Nov. 10.

“We believe this also has a negative impact on OETC's credit quality due to the company's very strong link to the Omani government. This means that we would not rate OETC above Oman,” the agency said in a news release.

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