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(MENAFN - The Peninsula)
The Peninsula
Moody s Investors Service (Moody s ) yesterday affirmed the A2 long-term issuer rating of Ooredoo Q.P.S.C. (Ooredoo), as well as the A2 backed senior unsecured ratings on Ooredoo International Finance Limited, and the (P)A2 backed senior unsecured Medium-Term Note Program rating under Ooredoo Tamweel Limited. The outlook on all the ratings is stable. The affirmation of the ratings reflects Ooredoo s resilient performance in 2020 despite the impact of the COVID outbreak. In 2020, revenue and EBITDA declined by 4 percent and 6 percent respectively compared to 2019. This was mainly due to a revenue reduction in the prepaid segment as well as a significant decrease in revenues from roaming services. The weakness in Ooredoo s operations in oil exporting countries such as Qatar, Kuwait, Oman and Algeria, has been partially offset by an improving performance in other markets such as Indonesia. Moody s expects the negative trend to reverse in 2021
Moody s affirms Ooredoo s A2 ratings; stable outlook thepeninsulaqatar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thepeninsulaqatar.com Daily Mail and Mail on Sunday newspapers.
Forward-looking statements
Certain information contained in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions difficult to predict or beyond the Issuer s control. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item 1A. Risk Factors in the Issuer s Annual Report on Form 10-K for the year ended December 31, 2019, under Part II, Item 1A. Risk Factors in the Issuer s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020, and in any of the Issuer s other subsequent U.S. Securities and Exchange Commission filings. Forward-looking statements speak only as of the date they are made, and the Issuer undertakes no obligation to update an