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Qtel gains on investment grade rating confirmation
- Qatar: Sunday, February 24 - 2013 at 14:45
The Doha-based QE 20 Index declined 0.47% to 8,693.21 points. Market bellwether Industries Qatar or IQ fell 0.90% to close at QR167.50. Earlier in the day, IQ said the financials for 2012 revealed a net profit of QR8.44bn, up from QR7.93bn in 2011. Qatar Telecom, known as Qtel, gained 1.40% to hit QR117. Earlier in the day, Qtel said it had been informed by Moody's that they will maintain Qtel's "A2" rating with a stable outlook. At the same time Standard and Poor's affirmed Qtel's "A" long term and "A-1" short-term rating. However, S&P revised its outlook to negative from stable "principally as a result of increased EBITDA contribution from high growth emerging market assets."
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Gérard Al-Fil, Financial JournalistSunday, February 24 - 2013 at 14:45 UAE local time (GMT+4)
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