Make MENAFN My Home Page
 
  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




Indian shuttlers eye top positions at World Championships, ,8/21/2017 8:56:23 AM



(MENAFN - NewsBytes) Indian shuttlers eye top positions at World Championships 21 Aug 2017 The 2017 BWF World Badminton Championships starts from 21st August at Emirates Arena in Glasgow. ...


Flipkart goes global, will woo NRIs with desi products, ,8/21/2017 8:56:23 AM



(MENAFN - NewsBytes) Flipkart goes global, will woo NRIs with desi products 21 Aug 2017 Amazon already does it and from now on, so will Flipkart. The home-grown e-commerce platform will now ...


Jinder Mahal retains WWE Championship title, ,8/21/2017 8:56:23 AM



(MENAFN - NewsBytes) Jinder Mahal retains WWE Championship title 21 Aug 2017 Jinder Mahal defeated Shinsuke Nakamura to retain his WWE Championship title for the third time at the WWE ...


Turkish president arrives in Amman, ,8/21/2017 8:29:20 AM



(MENAFN - Jordan News Agency) Amman, Aug. 21 (Petra)-- Turkish President Recep Tayyip Erdogan arrived in Amman on Monday on an official visit for talks with His Majesty King Abdullah II on means to ...


Jordan- King receives U.S. secretary of defense, ,8/21/2017 8:29:20 AM



(MENAFN - Jordan News Agency) Amman, Aug. 21 (Petra)--His Majesty King Abdullah II on Monday received U.S. Secretary of Defense James Mattis and discussed with him the strategic partnership between ...


Jordan takes part in Arab League anti-terrorism meeting, ,8/21/2017 9:10:28 AM



(MENAFN - Jordan News Agency) Cairo, Aug. 21 (Petra) -- Jordan's Ambassador to Egypt and Permanent representative to the League of Arab States Monday participated in a meeting of senior officials ...


Jordan takes part in Arab meeting in Cairo, ,8/21/2017 9:10:28 AM



(MENAFN - Jordan News Agency) Cairo, Aug. 21 (Petra)-- Jordan is taking part in meetings of the Economic Committee of Arab Economic and Social Council that began in Cairo on Monday. The two-day ...


Senate president affirms Jordan's support to Libya to end political crisis, ,8/21/2017 9:10:28 AM



(MENAFN - Jordan News Agency) Amman, Aug. 21 (Petra)--Senate President Faisal Al Fayez voiced Jordan's support to Libya to preserve its unity and restore security and stability to the country. ...


Jordan- Foreign reserves reach JD13.1 billion end of June, ,8/21/2017 9:10:28 AM



(MENAFN - Jordan News Agency) Amman, Aug. 21 (Petra)--The Central Bank of Jordan's (CBJ) foreign reserves stood at JD13.105 billion at the end of June this year sufficient to cover the Kingdom's ...


Jordan- Social development minister meets Swedish ambassador, ,8/21/2017 9:10:28 AM



(MENAFN - Jordan News Agency) Amman, Aug. 21 (Petra)--Minister of Social Development Hala Latouf and Swedish Ambassador to Jordan Erik Ullenhag agreed to exchange expertise in the social work field, ...




 





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