S&P Global Ratings revised its outlook on the long-term counterparty credit ratings on Bank Muscat to negative from stable. At the same time, it affirmed the BBB-/A-3 long- and short-term foreign and local currency counterparty credit ratings on the bank. According to the ratings agency, the outlook revision on the bank follows a similar action on Oman earlier in the month. “With its standing as the country's leading commercial bank, with a market share of 35 per cent to 37 per cent in loans and deposits in 2016, and given the concentration of its assets and operations in its domestic market, our ratings on Bank Muscat remain capped at the level of the sovereign credit ratings on Oman” it added. (Muscat daily)