Abu Dhabi: Etisalat, one of the leading telecommunications companies in the Middle East and Africa, has been recognised as a company with one of the highest credit ratings in the telecom sector following a rigorous evaluation by the three international credit rating agencies, S&P, Fitch and Moody's.
During the second quarter of 2011, etisalat management met the three agencies to review the company's credit rating.
Etisalat investment grade ratings are considered among the highest of all globally-rated telecommunications companies.
Etisalat is the second highest rated telecom company globally on Fitch's rating scale while it is the fourth on S&P and Moody's rating scales. Excluding East Asia, etisalat is rated number one on the agencies' rating scales.
Etisalat Group Chief Executive Officer Ahmad Abdul Karim Julfar said, "The credit ratings were achieved following an in-depth review of etisalat's operations, covering its corporate strategy, regulatory and competitive landscapes, operational performance and financial position."
He added that the "solid rating" is a result of the company's "strong operating performance and prudent financial management".
