Fitch stabilizes National Bank of Oman view

Fitch Ratings said it revised National Bank of Oman SAOG's outlook to stable from negative and affirmed the bank's long-term issuer default rating at BB-.

The outlook revision and affirmation follow a similar action on Oman's sovereign rating on Dec. 20, Fitch said.

“Fitch also revised its outlook on the Omani operating environment score to stable from negative. The outlook revision reflects our view that pressures on the operating environment from the pandemic and lower oil prices have eased sufficiently, and that the bank's financial metrics have been resilient in the past quarters, despite these pressures,” the agency said in a press release.

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