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Oman Insurance Co. 'BBB+' ratings on watch Positive after parent assigned 'A/A-1' ratings
- Oman: Tuesday, June 26 - 2007 at 17:11
- PRESS RELEASE
Standard & Poor's Ratings Services said today it placed its 'BBB+' long-term counterparty credit and insurer financial strength ratings on United Arab Emirates (UAE)-based composite insurer Oman Insurance Co. (PSC) on CreditWatch with positive implications.
"The CreditWatch status will remain in place while we assess the strategic importance of Oman Insurance to Mashreq, following which the ratings on Oman Insurance may be raised or affirmed," said Standard & Poor's credit analyst Nigel Bond. Resolution of the CreditWatch placement is expected within one month.
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Ratings information is available to subscribers of RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com. It can also be found on Standard & Poor's public Web site at www.standardandpoors.com; under Ratings in the left navigation bar, select Credit Ratings Search. Alternatively, call one of the following Standard & Poor's numbers: Client Support Europe (44) 20-7176-7176; London Press Office Hotline (44) 20-7176-3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm (46) 8-440-5914; or Moscow (7) 495-783-4017.Analyst Contacts:
Nigel Bond, London (44) 20-7176-7063
Kevin Willis, London (44) 20-7176-7085
Isobel McCalman, London (44) 20-7176-7233
Insurance Ratings Europe
Press Office Contacts:
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Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 21 countries. Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions.
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Posted by Lara Lynn Golden, News Editor
