Moody’s assigns Baa3 rating to MuscatBank bond issue
Moody's Investors Service has assigned a Baa3 long-term domestic currency debt rating to BankMuscat’s senior fixed rate bonds due in 2013. The Baa3 global domestic currency rating is placed at the same level as the Baa3 foreign currency deposit rating already assigned to BankMuscat.
Bank Muscat is the largest bank in the Sultanate of Oman with assets in excess of OR 1.3 billion ($3.4 billion). Main shareholders of the Bank include the governmental Diwan of Royal Court and Societe Generale who are represented on the Board of the Bank. — (menareport.com)
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