Etisalat maintains strong credit ratings
Source: BI-ME , Author: Posted by BI-ME staff
Posted: Sun July 8, 2012 1:01 pm

UAE.  Etisalat, the leading telecommunications company in the Middle East, Africa and Asia with operations in 16 countries, has maintained one of the highest credit ratings in the telecom sector following rigorous evaluations by the three international credit rating agencies: Standard & Poor, Fitch and Moody’s.

The three international Credit Rating Agencies reviewed Etisalat’s existing Credit Rating during the second quarter of 2012, and affirmed their credit ratings on Etisalat as following: Etisalat has been rated AA- by S&P, A+ by Fitch, and Aa3 by Moody’s, maintaining its ranking across all three agencies.

Etisalat is now the highest overall rated telecommunications company in the GCC and the 4th highest rated telecommunications company in the world.

Ahmad Abdulkarim Julfar, Etisalat Group Chief Executive Officer, said:  “Etisalat has maintained its strong credit score due to our sound financial policy and financial flexibility, along with solid generation of cash flow and a strong portfolio of local and overseas assets that have yielded consistent increased value.

“Etisalat is proud of the recognition of our financial success which we look forward to maintain with strong underlying operating performance that will sustain our stable rating and assist in diversifying our funding sources and provide strong liquidity and financial flexibility.”

About Etisalat:

Strong commitment to excellence and innovation has seen Etisalat become one of the world’s fastest-growing telecom groups, rapidly expanding across Asia and Africa. Its UAE operations, strategically located at the crossroads of East and West, enables Etisalat to be the major hub in the Middle East for Internet, voice, broadcast, roaming and corporate data services. Etisalat has been recognised as ‘Best Operator’ 10 times since 2006 and ‘Best Wholesale Provider’ four times in the last three years. Servicing over 167 million customers in 16 countries Etisalat continues to reach out to new customers and markets.

For more information: www.etisalat.com

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: August 21, 2014
INTERNATIONAL. The report found there are 15 million middle-class households in 11 of sub-Saharan Africa's top economies this year, up from 4.6 million in 2000 and 2.4 million in 1990, an increase of 230% over 14 years.
date:Posted: August 21, 2014
UAE. "The establishment of QIFs aimed at sophisticated, high-net worth investors is a welcome development which reflects the fact that a one size fits all approach to regulation is not appropriate."
date:Posted: August 20, 2014
UAE. Rising geopolitical tensions and slowing global growth; GCC markets remain steady in spite of increased global volatility; Commodity prices soft on China bank data.
INTERNATIONAL. U.S. special operations forces made a failed attempt to rescue journalist James Foley and other Americans held hostage by Islamic extremists in Syria earlier this summer, the White House said in a statement.
dhgate