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| Prospect News home > News index > List of issuers O > Headlines for Oman Electricity Transmission Co. SAOC > News item |
Fitch lowers three Oman electric companies
Fitch Ratings said it downgraded the long-term foreign-currency issuer default ratings on Oman Electricity Transmission Co., Mazoon Electricity Co. and Oman Telecommunications Co. SAOG (Omantel) to BB+ from BBB-.
Fitch also downgraded the local-currency issuer default ratings on Oman Electricity and Mazoon to BB+ from BBB-.
The outlooks on all of the companies are stable.
The downgrades follow the downgrade of Oman's long-term foreign- and local-currency issuer default ratings to BB+ from BBB-.
The standalone credit profile on all three companies is unchanged at BBB-.
The companies are rated as government-related entities and their standalone credit profiles are higher than the Oman sovereign rating of BB+, Fitch explained.
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