Standard & Poor’s Upgrades Ooredoo’s Outlook to Positive; Rating Affirmed at ‘A-’

12 January 2017 . Global

Ooredoo Q.S.C. (“Ooredoo”) - Ticker: ORDS - notes Standard and Poor’s affirmation of Ooredoo’s long term corporate credit ratings at ‘A-' and its change in Outlook from Stable to Positive.  Standard and Poor’s change in Outlook is based on its expectation that Ooredoo will require lower capital expenditure, resulting in higher free operating cash flow in 2017 and 2018.

 

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About Ooredoo

Ooredoo is a leading international telecommunications company delivering mobile, fixed, broadband internet services and corporate managed services to consumers and businesses across markets in the Middle East, North Africa and Asia Pacific. 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, Myanmar and Indonesia. Ooredoo was named “Most Innovative Company of the Year – MEA Region” at the 2015 International Business Awards. Ooredoo reported revenues of USD 8.8 billion in 2015 and had a consolidated global customer base of 133 million customers as at 30 September 2016. Ooredoo’s shares are listed on the Qatar Stock Exchange, the Abu Dhabi Securities Exchange and the London Stock Exchange (via global depositary receipts).

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