Ooredoo Q.S.C. (Ticker: ORDS.QA) (“the Group”) notes S&P’s recent review which revised its
credit rating from investment grade A to A-.  S&P’s Outlook for the Group’s credit rating has been improved to “Stable” from “Negative”. 

The credit rating revision reflects the impact on leverage from plans to increase capital spending in 2014 to support the competitiveness of some international subsidiaries and the rollout of greenfield operations  in order to produce future growth opportunities for its shareholders.

 

About Ooredoo

Ooredoo is a leading international communications company delivering mobile, fixed, broadband internet and corporate managed services tailored to the needs of consumers and businesses across markets in the Middle East, North Africa and Southeast Asia. As a community-focused company, Ooredoo is guided by its vision of enriching people’s lives and its belief that it can stimulate human growth by leveraging communications to help people achieve their full potential. Ooredoo has a presence in markets such as Qatar, Kuwait, Oman, Algeria, Tunisia, Iraq, Palestine, the Maldives and Indonesia. The company reported revenues of $9.3 billion U.S. dollars in 2012 and had a consolidated global customer base of more than 92.9 million people as of 31 December 2012.
Ooredoo’s shares are listed on the Qatar Exchange and the Abu Dhabi Securities Exchange.

 

 

For further information:

Email: [email protected]
Follow us on Twitter: @OoredooIR