Al Mazaya Holding Co (K.S.C) a leading property firm in the region, signed a contribution contract with “Oman Construction” to share in a real estate investment portfolio in Oman with a capital of OMR 3.1 million. Al Mazaya’s share is 40% while 12% is for Oman Construction and 12% for “Mina” real estate company. The remainder of the percentage is submitted for IPO from a chosen group of investors and real estate companies.
According to the rating definitions of Capital Intelligence Al Mazaya Holding Company was Assigned an Initial Corporate Rating of ‘BBB-’ Long-Term and ‘A3’ Short-Term
With reference to the above mentioned subject and to paragraph 18 of article 4-1-1 of chapter 4 of book 10 of the executive regulation of law No.7 of 2010 regarding the establishment of the Capital Markets Authority and regulating securities’ activities, kindly be advised that:
| Date: | 04/12/2016 |
| Name of listed company | Al Mazaya Holding Co. K.S.C.P |
| Rating Agency | Capital Intelligence |
| Rating Category | “BBB-“: for the long-term & “A3”: for the short term |
| Rating Definition | According to the rating definitions of Capital Intelligence, the rating of (BBB-)for the long term is: A credit rating which reflects the sound company’s financial position and its ability to fulfill its financial obligations on time in the long term. |
| Rating effect on the company’s status | The investors trust in the company and its strong financial position will continue and increase |
| Future vision / Expectation | Stable |
| Translation of the press release or the Executive Summary | The above mentioned ratings are supported by the diversity of the business model of the company and its sound cash liquidity, its strong profitability, in addition to the nature of the financial obligations of the company which are long-term obligations and the company has enough operating profit to cover the bank interests. |
