Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Omantel's high ratings reaffirmed by SP, Moody's  Join our daily free Newsletter

MENAFN - Muscat Daily - 02/07/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - Muscat Daily) Omantel, the leading telecommunications service provider in the sultanate, continues to be rated BBB/A-2 by Standard and Poor's (S&P) and A3 by Moody's. 


In 2013, Standard and Poor's had assigned a first-time rating of BBB/A-2 and Moody's had assigned a first-time rating of A3. 


According to Standard and Poor's, the ratings continue to reflect Omantel's strong financial ratios and its strong competitive position in Oman's fixed line and mobile telephony markets, solid operating performance, good profitability, strong net cash position and credit metrics.


According to Moody's, ''The A3 rating combines Omantel's fundamental credit quality, strong financial profile, which is reflected by the company's solid free cash flow gen­eration, despite its high capital expenditures for network upgrades.''


''The rating is also driven by our expectation that the company will maintain a conservative leverage profile, with debt/ EBITDA not exceeding 1.5xs. In addition, the rating reflects the high barriers of entry to the Omani telecom market, given the country's large territory ­relative to its population, which acts as a deterrent to potential entrants into the market,'' said Moody's.
Talal Said al Mamari, the CEO of Omantel

Talal Said al Mamari, the CEO of Omantel

Talal Said al Mamari, the CEO of Omantel, said ''We are pleased that both Standard and Poor's and Moody's continue their high ratings for Omantel. Their rating speaks volumes and affirms Omantel's strong financial performance and its leadership position in the domestic market. Omantel's strategy remains focused on customer experience, growth and market leadership with an aim to enhance shareholder value.''


Omantel's high financial ratings reflects the sustainable financial strength and performance of the company and follows many international awards and recognitions received by the company in previous years, said a press release on Wednesday.


The most recent awards bagged by the company include the Best Company for Investor Relations in Oman for three years by Annual Middle East Investor Relations, and by the Asian Business Leaders Forum (ABLF) for best business practi


 


Muscat Daily




  MENA News Headlines
 Feb 24 2017 - LED-Based Lamps Used in Explosion-Proof Lighting Market 2017 Global Industry Analysis and Forecast to 2022MENAFN Press
(MENAFN Editorial) "LED-Based Lamps Used in Explosion-Proof Lighting Market 2017" WiseGuyReports.Com Publish a New Market Research Report On – 'LED-Based Lamps Used in Explosion-Proof Lighting ...

 Feb 24 2017 - Infrastructure-led Projects Driving Smart City Growth in QatarMENAFN Press
(MENAFN Editorial) The infrastructure sector is a key component in the development of smart cities data-ad-slot="4736253037" Doha, Qatar, February 21, 2017: Governments across nations ...

 Feb 24 2017 - As cheerful, family-friendly nonsense, it fits the billGulf Times
(MENAFN - Gulf Times) Due to recent personal developments that need not be explained here at length (suffice to say that she's damnably cute and just started smiling), I can't bring myself to be ...

 Feb 24 2017 - Qatar- The shape of things to comeGulf Times
(MENAFN - Gulf Times) The wave of automation that swept away tens of thousands of American manufacturing and office jobs during the past two decades is now washing over the armed forces, putting both ...

 Feb 24 2017 - Rainbow Trout healthy and deliciousGulf Times
(MENAFN - Gulf Times) Rainbow Trout is native to rivers, streams and other fresh waters in mountains. They are available year-round and are known for their delicate sweet taste and beautiful ...

 Feb 24 2017 - EKWA marks Qatar National Sport DayGulf Times
(MENAFN - Gulf Times) Enamakkal Kettungal Welfare Association (EKWA) marked the Qatar National Sport Day at Al-Markhiya Stadium recently. EKWA members, their families and friends attended the event ...

 Feb 24 2017 - Aster Medical Centre to host Diabetes Expo'17 in Al KhorGulf Times
(MENAFN - Gulf Times) Aster Medical Centre, a division of Aster DM Healthcare, is organising a free, open-to-all event to raise awareness levels on diabetics amongst residents of Qatar. The ...

 Feb 24 2017 - India- Infosys will probe allegations over Panaya acquisitionNewsBytes
(MENAFN - NewsBytes) Infosys CEO writes to employees against "libellous" allegations 21 Feb 2017 Following allegations of fraudulent acquisition of Israeli automation firm ...

 Feb 24 2017 - Pakistan: A victim of terror?NewsBytes
(MENAFN - NewsBytes) Pakistan facing terror brunt? Terror in Pak On 15 Feb, 7 people were killed in twin suicide attacks on Pakistani government officials in Mohmand and Peshawar.On ...

 Feb 24 2017 - EXCLUSIVE: NASA's Last Discovery Observed from MoroccoMorocco World News
(MENAFN - Morocco World News) var td_screen_width = document.body.clientWidth; if ( td_screen_width >= 1024 ) { /* large monitors */ document.write(' data-ad-client="ca-pub-9546318280945074" ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help