S&P affirms Ooredoo at A-/A-2

S&P said it affirmed its A-/A-2 long- and short-term corporate credit ratings on Ooredoo QPSC and removed them from CreditWatch, where they were placed with negative implications on June 12.

The outlook is negative.

The agency said the affirmation follows its affirmation of the ratings on the State of Qatar, as well as S&P’s assessment that Ooredoo's operating performance will be only mildly impacted by expected weaker macroeconomic conditions following the diplomatic fallout and boycott imposed on Qatar by several Arab countries.

“In addition, we expect free operating cash flow generation to improve in coming years, thanks to lower capital expenditures and we continue to assess Ooredoo's stand-alone credit profile at bbb-, in line with our assessment from June 12,” the agency said in a news release.

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