Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Oman Electricity Transmission Co. SAOC > News item |
S&P lowers Oman Electricity
Standard & Poor’s said it lowered the long-term corporate credit rating on Oman Electricity Transmission Co. to BBB from BBB+.
The agency also said it downgraded the notes issued by orphan special-purpose vehicle Lamar Funding Ltd. to BBB from BBB+.
The outlook is stable.
The downgrades follow a similar rating action on the Sultanate of Oman, S&P said.
Oman Electricity is considered a government-related entity due to its very strong link with the Omani government, S&P said.
This is reflected in the company’s monopoly status as the sole transmission system operator and its 100% state ownership through the Ministry of Finance and government-owned Electricity Holding Co. SAOC, the agency said.
The ratings also consider the company’s exposure to potential privatization risk, S&P added, although that is considered unlikely in at least the next two- to three-years.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.