Fitch affirms Etisalat's ratings at 'A+', withdraws ratings

Abu Dhabi – Mubasher: Fitch Ratings has affirmed Emirates Telecommunications Group's (Etisalat) Long-Term Issuer Default Rating (IDR) and senior unsecured debt at 'A+'

The rating agency has subsequently withdrawn the ratings for commercial reasons, according to a recent press release.

The company's ratings are driven by the company's strong domestic position with its leading share in the domestic market and higher-risk international operations which enable the company to witness a long-term growth potential.

Meanwhile, 60% of Etisalat is owned by the UAE federal government through its sovereign wealth fund, the Emirates Investment Authority (EIA). 

It is noteworthy to mention that during the first half (H1) of 2021, the net profits attributable to the owners of Etisalat increased by 3.9% to AED 4.745 billion, compared to AED 4.566 billion in the year-ago period.

Mubasher Contribution Time: 21-Sep-2021 07:41 (GMT)
Mubasher Last Update Time: 21-Sep-2021 07:41 (GMT)