Oman’s leading telecom provider, Omantel, is continuing to get high ratings from Moody’s and Standard and Poor’s rating system. Just as in 2013 Omantel received a BBB+/A-2 rating from S&P, and an A3 rating from Moody’s.
“The A3 rating combines Omantel’s fundamental credit quality, strong financial profile, which is reflected by the company’s solid free cash flow generation despite its high capital expenditures for network upgrades. The rating is also driven by our expectation that the company will maintain a conservative leverage profile, with debt/Ebitda not exceeding 1.5 times. In addition, the rating reflects the high barriers of entry to the Omani telecom market given the country’s large territory relative to its population, which acts as a deterrent to potential entrants into the market.”
“We are pleased that both Standard and Poor’s and Moody’s continue their high ratings for Omantel. Their rating speaks volumes and affirms Omantel’s strong financial performance and its leadership position in the domestic market. Omantel’s strategy remains focused on customer experience, growth and market leadership with an aim to enhance shareholder value,” said Talal Said Al Mamari, the chief executive officer of Omantel.