Abu Dhabi – Mubasher: Fitch Ratings has affirmed the long-term issuer default rating (IDR) and senior unsecured debt of Emirates Telecommunications Group Company (Etisalat) at 'A+', with a ‘Stable’ outlook, according to a statement.
The ratings reflect the strength of Etisalat’s links with the Emirates, the rating agency said, adding that the ADX-listed telecom company is rated on a top-down basis, only two notches below the sovereign rating of Abu Dhabi (AA/Stable).
Etisalat further owns a standalone credit profile (SCP) of 'a-' which guarantees it a strong position in its domestic telecoms market as well as a diversified portfolio of international assets that carry the both of an emerging-market risk and a conservative financial policy, Fitch noted.
