Standard & Poor’s and Fitch reconfirm investment grade ratings of Qtel
Qatar Telecom (Qtel) Q.S.C. (“Qtel” or “the Qtel Group” or “the Group”) (EPIC: QTEL.QA) announced today that Standard and Poor’s (“S&P”) and Fitch have reconfirmed their investment grade credit ratings on the Company.
Standard & Poor’s Ratings Services reassigned its “A-” long term and “A-2” short term corporate credit ratings, while Fitch Ratings has reassigned an issuer default rating of “A+”. Moody’s is currently rating Qtel with A1. The outlook on all ratings is stable.
Dr Nasser Marafih, CEO of Qtel commented:
“We are pleased that both S&P and Fitch have reconfirmed their investment grade ratings. It is a continued validation of our compelling strategy, professional management and sound financial structure. It also reflects the extraordinary strength of the Qatari economy despite wider global economic issues and the strong and continuous support of our shareholders. Our investment grade credit ratings will ensure that we have continued excellent access to global investors and that we can revisit the markets to finance our growth.”
For more information on Qtel’s ratings, please refer to the separate publications released by the rating agencies today.