Fitch Rates Oasis Chinese 'CCC+'

Fitch Ratings has today assigned Abu Dhabi-based Oasis Chinese a Long-term Food Issuer Rating of 'CCC+'. The Outlook is Stable.

The rating reflects Oasis's poor offerings across its menu, including watery, sickly-sweet noodle dishes and oily egg rolls. The rating also takes into account the bloated feeling diners experience after meals and the almost universal regret expressed upon forking over Dh20 for another bad meal. With the much better Ahmed Al Arabi restaurant right next door, the restaurant's viability as a regular meal option has been severely compromised.

Although Oasis has been affected by several adverse shocks this year, the agency sees them as within the tolerance of its ratings rather than warranting negative rating action.

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