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The ratings demonstrate confidence in Etisalat's profitability, cash flow, financial policies, and a portfolio of overseas assets, the value of which has increased significantly. Etisalat's strong credit ratings reflect its excellent relationship with the UAE government which owns 60%.
Mr. Salem Ali Al Sharhan, Etisalat Chief Financial Officer, commented:
"The maintenance of Etisalat's ratings from the three agencies at the same level as the inaugural ratings is a demonstration of Etisalat's strong operating performance and prudent financial management during the course of last year. Etisalat's strong credit ratings will help further diversify its funding sources and enhance Etisalat's negotiating position when securing future financing from debt or capital markets."
The assigned ratings are:
Moody's Investors Service Aa2
Fitch Rating AA-
Standard and Poor's A+
Posted by Rima Ali Al Mashni
