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29-Feb-2016

S&P affirms Oman United Insurance's credit ratings

Standard & Poor's has affirmed its BBB financial strength and counterparty credit ratings on Oman United Insurance Co (OUIC). The outlook is stable. The ratings agency said OUIC has a significant volume of cash deposits placed with systemically important banks in Oman. This in particular allows OUIC to pass S&P's rating above the sovereign stress test. S&P said it does not expect to upgrade OUIC in the near term as it expects OUIC's stand-alone credit profile (SACP) to remain stable at bbb. (Muscat Daily)

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