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Bulletin: Qatar Telecom (Qtel) Q.S.C. Ratings And Outlook Not Affected By Acquisition Of 50% Stake In Tunisiana
Standard & Poors, Nov 2010
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
MOSCOW (Standard & Poor's) Nov. 24, 2010--Standard & Poor's Ratings Services said today that its ratings and outlook on Qatar Telecom (Qtel) Q.S.C. (A/Stable/A-1), incumbent fixed-line and mobile telecoms operator in the State of Qatar (AA/Stable/A-1+), are not affected by Qtel's announced signing of an agreement with a consortium led by Tunisian Princesse Holding to acquire from Orascom Telecom Holdings S.A.E. (B-/Watch Pos/--) Orascom's 50% stake in mobile operator Orascom Telecom Tunisie S.A. (Tunisiana) for about $1.2 billion cash. Tunisiana leads among Tunisia's mobile operators and on June 30, 2009, had a 52.9% subscriber market share. Orascom and Qtel's 52.5% subsidiary National Mobile Telecommunications Company K.S.C. operate Tunisiana. Our pro-forma calculations show Qtel's adjusted debt to EBITDA for the 12...
Companies mentioned in this report are: Qatar Telecom (Qtel) Q.S.C.
Action: Bulletin
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