| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for Emirates Telecommunications Corp. > News item |
Fitch: Etisalat unchanged
Fitch Ratings said Emirates Telecommunications Corp.'s (Etisalat) non-binding offer to acquire a 46% stake in Zain, if realized, should not have a significant impact on the rating profile of the company. Etisalat currently has a long-term foreign-currency issuer default rating of A+ with a stable outlook.
The agency expects that the company's management will still maintain a conservative financial policy even after such a sizeable transaction, with a maximum gross debt-to-EBITDA ratio of 2.5 times, and that the enlarged company will continue to generate more than 60% of group EBITDA from the local United Arab Emirtes market by 2012-13. Consequently, Fitch said there is room in the rating for a sizeable transaction such as this.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.