Middle East Economic Survey
S&P Rates BankMuscat $250Mn Floating Rate Notes At BBB-
Ratings agency Standard & Poors on 21 May assigned a BBB- rating to BankMuscat s $250mn floating rate notes (FRN). The bonds, which were oversubscribed (MEES, 17 May), have been issued under the banks $800mn Euro Medium-Term Note (EMTN) Program, which is itself rated BBB-/A-3 (for senior unsecured debt), said the agency. The rating on the FRN reflects the ratings on...