Fitch Affirms Etisalat’s ‘AA-’ Credit Rating with Stable Outlook

DUBAI - Fitch Ratings has affirmed Emirates Telecom Corporation’s or Etisalat’s long-term foreign currency issuer default rating at ‘AA-’ with a stable outlook saying the UAE’s largest telecommunications operator enjoys strong support from 
the government.

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Published: Sun 19 Jul 2009, 12:15 AM

Last updated: Sun 5 Apr 2015, 9:39 PM

Fitch Ratings said Etisalat’s creditworthiness is assured, since it is 60.03 per cent owned by the UAE government. It said that government backing is integral to Etisalat’s aim to become a major telecoms operator.

“Further expansion into the India, Midle East and North Africa region, exploiting the company’s cash-rich balance sheet as well as direct support from the UAE government is also factored into the current rating.” rocel@khaleejtimes.com


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