S&P affirms Qtel

Standard & Poor's said it affirmed the A/A-1 long- and short-term corporate credit ratings on Qatar Telecom QSC (Qtel) and the A rating on Qtel International Finance Ltd.'s senior unsecure debt.

The ratings were removed from CreditWatch, where they were placed with negative implications in April.

The outlook is negative.

The affirmations follow Qtel's announcement that it withdrew its binding offer to acquire 53% of Maroc Telecom from Vivendi, S&P said.

The agency said it therefore no longer see an immediate risk that Qtel's debt leverage will increase above the base-case expectations.

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