S&P corrects Ooredoo short-term rating

Standard & Poor’s said it affirmed the A- long-term corporate credit rating on Ooredoo QSC.

The outlook remains stable.

The agency also said it corrected an error on the company’s short-term corporate credit rating by lowering the rating to A-2 from A-1.

In accordance with the agency’s criteria, S&P said it should have lowered that rating Feb. 3, 2014 when it lowered the long-term rating to A- from A.

Ooredoo now has significant cash balances and a comfortable debt-maturity profile, which led to the revision of its liquidity assessment to strong from adequate, the agency added.

A reassessment of the company’s competitive position to strong from satisfactory also considers an expectation of more stable profitability in the future, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.