10
Nov
11:00
Bank reduces Oman's Al Jazeera rating to neutral
The contribution to Al Jazeera Steel’s 2016 performance from its new rebar mill will be minimal, as the current economic conditions do not support a fast production ramp-up, according to investment bank EFG Hermes.
The bank foresees pressure on Jazeera’s product demand and margin persisting at least throughout 2016, and has thus cut its fair value for the Omani re-roller to OMR 0.193 from OMR 0.290. It has also downgraded its rating of Jazeera to neu…
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