S&P gives Etisalat A+

Standard & Poor's said it assigned its A+ long-term and A-1 short-term foreign and local currency corporate credit ratings to Emirates Telecommunications Corp. (Etisalat).

The outlook is stable.

According to S&P, the ratings are supported by Etisalat's leading market position in both fixed and mobile telephony in the UAE telecoms market, despite the introduction of competition in 2007 from Emirates Integrated Telecom Co.

The agency said that it expects strong population growth in the UAE to continue driving demand for telecoms services.

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