Middle East Economic Survey


No 24



Moodys Assigns Baa3 Rating To BankMuscat Bond Issue

Ratings agency Moodys on 9 June assigned a Baa3 long-term domestic currency debt rating to the BankMuscats Omani Rial senior fixed rate bonds due on 30 June 2014. The Baa3 global domestic currency rating is at the same level as the Baa3 foreign currency deposit rating already assigned to BankMuscat. The issue is worth OR25mn and carries interest at 6.25%, although in the event of...