Fitch ups Orascom Telecom Tunisie to BBB-

Fitch Ratings said it upgraded Orascom Telecom Tunisie long-term foreign- and local-currency issuer default ratings to BBB- from BB+, along with its national long-term rating to A+(tun) from A(tun).

The outlook is stable.

The ratings reflect its free cash flow generation capability and strong credit profile, which are driven by the company's elevated operating profitability and its leading position in the Tunisian market, Fitch said.

The agency also said it believes the company's FCF generation capability in 2009 will be adequate to cover any short-term financial debt.

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