Fitch rates Omantel sukuk BB+

Fitch Ratings said it assigned Oman Telecommunications Co. SAOG's $500 million of senior unsecured trust certificates a final BB+ rating with an RR4 recovery rating.

The sukuk was issued through the trustee, Otel Sukuk Ltd. (OSL). Oztel Holdings SPC Ltd. will guarantee all Omantel's obligations under the transaction documents. The instruments were priced at 5 3/8% due in January 2031.

“The ratings are in line with Omantel's long-term issuer default rating (IDR) and senior unsecured rating,” Fitch said in a press release.

The outlook is stable.

© 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.