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Bank Sohar’s ratings affirmed at BBB+

: Thursday, June 26 - 2014 @ 00:17

Fitch Ratings has affirmed Bank Sohar’s long-term issuer default rating (IDR) at BBB+ with a ‘Stable’ outlook, Muscat Daily has reported. The lender’s long-term and short-term IDRs are support-driven, Fitch said. “Its IDRs, support rating (SR) and support rating floor (SRF) reflect Fitch’s expectation that there would be a high probability of support for the bank, if needed, from the Omani authorities, underpinned by Fitch’s belief that there would be a strong willingness to maintain stability in the banking system,” the ratings agency said.

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Thursday, June 26- 2014 @ 0:17 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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