S&P: Qatar Telecom view negative

Standard & Poor's said it revised its outlook on Qatar Telecom (Qtel) QSC to negative from stable.

At the same time, S&P affirmed the A long-term and A-1 short-term corporate credit ratings on Qatar Telecom.

S&P said the outlook revision reflects the view that Qatar Telecom's international expansion could affect its credit profile.

Apart from the leverage increase associated with the acquisitions, the agency said it believes that the increasing share of revenues from countries with above-average country risk, such as Iraq or Tunisia, could weaken the assessment of Qatar Telecom's business risk profile.

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