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Tue 16 Dec 2008 10:54 AM

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Qtel assigned first ever credit ratings

Telecoms company receives ratings from the three most prominent international agencies.

Qatar Telecom (Qtel) has received public credit ratings from the three major international ratings agencies, the company confirmed on Tuesday.

The outlook for the telecoms company on all the ratings is stable.

Qtel, which has never been assigned a credit rating before, received a senior unsecured issuer rating of A1 from Moody’s Investors Service.

Standard & Poor’s Ratings Services, meanwhile, assigned the telecoms company an A- long term and A-2 short term corporate credit rating.

Fitch Ratings assigned Qtel an issuer default rating of A+.

“Securing a strong investment grade credit profile has always been a key strategic objective for Qtel,” said the company’s chief executive officer, Dr Nasser Marafih,

He added that its aim is to become one the of the top 20 telecoms companies in the world by 2020.

“The strong credit profile assigned today by these well-respected rating agencies confirms our commitment to capital discipline, which we will continue to emphasize as we further grow and develop internationally,” Dr Marafih said.

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