Mubasher: Capital Intelligence (CI) rating agency has downgraded the sovereign rating of three Omani banks.

CI lowered its ratings for the Long-Term Foreign Currency Rating of the three Oman-listed banks National Bank of Oman (NBO), Bank Muscat, and Ahli Bank to “BBB-” from “BBB”, with a stable outlook, according to a statement.

This actions followed the recent downgrade of Oman's sovereign rating to “BBB-” from “BBB”,

The three banks’ Short-Term Foreign Currency Ratings were affirmed at “A3”.