Moody's rates Al Omaniya Financial

Moody's Investors Service said it assigned to Al Omaniya Financial Services SAOG long-term local- and foreign-currency issuer ratings of Ba3.

The outlook is stable.

The ratings reflect the company's adequate financial fundamentals, good profitability, asset quality and provisioning coverage and strong capitalization, Moody's said.

The ratings are constrained by its reliance on wholesale funding and short-term borrowings from a small number of local banks, the agency said.

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