Etisalat highest rated telecom firm in GCC

Etisalat, the leading telecommunications company in the Middle East, Africa and Asia with operations in 16 countries, has maintained one of the highest credit ratings in the telecom sector following rigorous evaluations by the three international credit rating agencies:

Standard & Poor, Fitch and Moody's.

The three international credit rating agencies reviewed Etisalat's existing credit rating during the second quarter of 2012, and affirmed their credit ratings on Etisalat as following: Etisalat has been rated AA- by S&P; A+ by Fitch; and Aa3 by Moody's, maintaining its ranking across all three agencies.

Etisalat is now the highest overall rated telecommunications company in the GCC and the 4th highest rated telecommunications company in the world.

Ahmad Abdulkarim Julfar, Etisalat Group Chief Executive Officer, said:

"Etisalat has maintained its strong credit score due to our sound financial policy and financial flexibility, along with solid generation of cash flow and a strong portfolio of local and overseas assets that have yielded consistent increased value. Etisalat is proud of the recognition of our financial success which we look forward to maintain with strong underlying operating performance that will sustain our stable rating and assist in diversifying our funding sources and provide strong liquidity and financial flexibility."

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