Moody’s adjusts Oman’s local currency and foreign currency bond and deposit ceilings

By bne IntelliNews July 24, 2013

Moody’s has adjusted its local currency country risk ceiling and the foreign currency bond and deposit ceilings for Oman, reflecting a methodological change earlier this year.

The long-term local currency bond and deposit ceiling was changed to Aa3 from Aa2. The long-term foreign currency bond ceiling was also changed to Aa3 from Aa2, while the deposit ceiling remained at A1. The ratings agency also left the short-term foreign currency bond and deposit ceilings at P-1.

The adjustment brings Oman’s local currency ceilings closer towards the sovereign bond rating of A1, which reflects the currency peg to the US dollar, the high degree of government intervention in the economy and the high dependence of the government finances and the overall economic performance on oil price movements.

Similarly, the strong foreign currency ceilings reflect Oman’s foreign exchange liquidity supported by current account surpluses and sizeable foreign exchange assets.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Lebanon becomes European Bank for Reconstruction and Development shareholder

Lebanon has become the fifth member country from the Southern and Eastern Mediterranean (SEMED) region to join the European Bank for Reconstruction and Development (EBRD), becoming a shareholder with ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

US lifts laptop ban on Turkish Airlines flights as of July 5

Passengers boarding an early morning July 5 Turkish Airlines (THY) flight to John F Kennedy International Airport in New York were allowed to include laptops and electronic devices larger than a ... more

Most Read

  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    2 days ago
  2. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    3 days ago
  3. Ukrainian farmers turn to Donbas veterans for protection from raiders
    3 days ago
  4. EU allows Gazprom to use an additional 40% of OPAL gas pipeline's capacity
    3 days ago
  5. KRUK REPORT: Saakashvili is stripped of Ukrainian citizenship as Poroshenko’s re-election campaign gets underway
    1 day ago
  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    2 days ago
  2. CHINA RISING: When sleeping giants meet
    17 days ago
  3. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    3 days ago
  4. Belarus’ retail king Euroopt goes on the road
    22 days ago
  5. STOLYPIN: Russia’s cyber-challenge cuts both ways
    25 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss