Qatar Telecom (Qtel) Q.S.C. announced today that Standard and Poor’s (“S&P”) have increased their credit ratings on Qtel. The long term rating has increased to 'A' from 'A-' and the short-term rating to 'A-1' from 'A-2'. The outlook remains stable. The announcement follows S&P’s upgrade on the sovereign ratings of the State of Qatar.
The rating is supported by Qtel’s market position, cash flow generation, international diversification and Government support.
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