Top rating agencies continue their high ratings for Omantel
Omantel, the leading telecommunications service provider in the Sultanate of Oman continued to be rated BBB+/A-2 by Standard and Poor’s and A3 by Moody’s.
In 2013 Standard and Poor’s had assigned a first time rating BBB+/A-2 and Moody’s had assigned a first time rating of A3.
According to Standard and Poor’s the ratings continue to reflect Omantel’s strong financial ratios and its strong competitive position in Oman’s fixed line and mobile telephony markets, solid operating performance and good profitability, strong net cash position and credit metrics.
According to, 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 xs. 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.
Talal Said Al Mamari, the CEO of Omantel commented “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.”
This high financial ratings of Omantel reflects the sustainable financial strength and performance of the Company and follows many international awards and recognitions Omantel received in the previous years.
The most recent awards are the Best Company for Investor Relations in Oman for three years awarded by Annual Middle East Investor Relations, Best Performing Company in MSM for the 8th consecutive year by Oman Economic Review and Asian Business Leaders Forum (ABLF) for the best business practices in recognition of the great efforts made by Omantel to improve its business and apply the best internationally recognized business practices.
Omantel is the pioneer provider of leading edge telecommunications services in the Sultanate of Oman connecting individuals, enterprises and government across the country through a state-of-the-art network. By offering an unmatched range of innovative products and after-sales service, Omantel is the market leader. We serve our customers nationwide through online channels, shops and distributors. Omantel is listed on the Muscat Stock Market and trades under the name OTL.OM.