Fitch affirms Emirates Telecom

Fitch Ratings said it affirmed Emirates Telecom Corp.'s (Etisalat) long-term issuer default rating at A+.

The outlook is stable.

The state-owned company's ratings continue to reflect a view of the United Arab Emirates government's creditworthiness, Fitch said.

The agency said it has concerns regarding the increasing demands on the sovereign's small fiscal resources to support UAE banks, the agency said.

The ratings also are underpinned by the strong operating performance and financial standing of the company, Fitch added.

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