Moody's: Gulf telecoms stable

Moody's Investors Service said it said the outlook for the integrated telecommunications industry in the Gulf Cooperation Council countries remains stable, as companies continue to demonstrate above-average credit metrics, clear conservative financial policies and solid liquidity backed by strong cash flow generation.

Furthermore, the industry is expected to benefit from moderate positive revenue growth and a benign regulatory environment, the agency said.

Moody's said it recognizes that the integrated telecoms industry in the GCC is changing, not only due to the recent economic crisis, but also due to more open markets, increasing competition and nearly saturated penetration rates.

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