Etisalat maintains strong ratings [Khaleej Times (United Arab Emirates)]

Etisalat has maintained one of the highest credit ratings in the telecom sector following rigorous evaluations by international rating agencies Standard & Poor's, Fitch and Moody's.

The three agencies reviewed etisalat's existing credit ratings during the second quarter of 2012, and affirmed these; etisalat was rated AA- by S&P, A+ by Fitch and Aa3 by Moody's, maintaining its ranking.

Etisalat is now the highest overall rated telecommunications company in the GCC and the fourth-highest rated telco in the world.

"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 group chief executive officer Ahmad Abdulkarim Julfar said. "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," he added.

business@khaleejtimes.com