Fitch affirms Qatar Telecom

Fitch Ratings said it affirmed Qatar Telecom QSC's (Qtel) long-term foreign currency issuer default rating at A+ and Qtel International Finance Ltd.'s global medium-term note program guaranteed by Qtel at A+.

The outlook is stable.

The ratings reflect Fitch's assessment of the sovereign's creditworthiness due to Qtel's strong operational and strategic ties with the Qatar, which holds a 55% stake in Qtel, the agency said.

The debt-to-EBITDA ratio declined to 1.9 times at September 2010, compared with 2.25 times at end 2009.

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