S&P raises Ooredoo

S&P said it raised its ratings on Ooredoo QPSC and its senior unsecured debt to A from A-.

“We expect Ooredoo's free operating cash flow (FOCF) generation will be stronger than we previously assumed and believe its S&P Global Ratings-adjusted FOCF to debt will remain comfortably above 25% in 2023-2025 and that the group's deleveraging potential has improved,” S&P said in a statement.

However, the agency added, “Still, we think that unfavorable foreign currency movements will continue to limit the consolidated revenue growth prospects.”

The outlook is stable.

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