Oman Telecommunications Company S.A.O.G. - March 2022 (LTM): Peer Snapshot

Oman Telecommunications Company S.A.O.G.: Update following rating upgrade to Ba2 - Credit Opinion – 2023/05/25 – US$ 250.00 – ...On 19 May 2023, we upgraded Oman Telecommunications Company S.A.O.G.'s (Omantel) corporate family rating (CFR) to Ba2 and maintained the positive outlook. The rating action reflects the recent upgrade of the Government of Oman's rating to Ba2, and the strong credit links between the state and Omantel. As the company is a government-related issuer (GRI), its rating incorporates its standalone creditworthiness, as measured by a Baseline Credit Assessment (BCA) of ba3, and its high dependence on and moderate level of support from the state, given the government's 51% stake in Omantel. Omantel's credit quality is supported by its (1) strong market position in the Omani telecommunications market; (2) resilient demand due to the necessity-like consumer spending on telecommunications services; (3) its exposure to other Middle Eastern and African markets through ownership in Mobile Telecommunications K.S.C.P. (Zain); and (4) its efforts to reduce leverage, particularly by using proceeds from the...

Oman Telecommunications Company S.A.O.G. - December 2022 (LTM): Peer Snapshot - Peer Snapshot – 2023/04/24 – US$ 750.00 – Peer Snapshot: Oman Telecommunications Company S.A.O.G. - December 2022 (LTM) 24 April 2023 (in US millions) FYE Dec-20 FYE Dec-21 LTM Dec-22 FYE Dec-20 FYE Dec-21 LTM Dec-22 FYE Dec-20 FYE Dec-21 LTM Dec-22 FYE Dec-20 FYE Dec-21 LTM...

Oman Telecommunications Company S.A.O.G. - September 2022 (LTM): Peer Snapshot - Peer Snapshot – 2022/12/20 – US$ 750.00 – Peer Snapshot: Oman Telecommunications Company S.A.O.G. - September 2022 (LTM) 20 December 2022 (in US millions) FYE Dec-20 FYE Dec-21 LTM Sep-22 FYE Dec-20 FYE Dec-21 LTM Sep-22 FYE Dec-20 FYE Dec-21 LTM Sep-22 FYE Dec-20 FYE Dec-21...

Oman Telecommunications Company S.A.O.G.: Update following the change of outlook to positive from stable; CFR affirmed at Ba3 - Credit Opinion – 2022/10/17 – US$ 250.00 – ...On 12 October 2022, we affirmed Oman Telecommunications Company S.A.O.G.'s (Omantel) Ba3 Corporate Family Rating (CFR) and changed the outlook to positive from stable, a direct consequence of a similar action on the rating of the Government of Oman. The rating action reflects the strong credit linkages between the Government of Oman and Omantel. This is further reflected in the company's status as a government related issuer with operations concentrated in Oman and whose performance will depend greatly on the local economic developments. Omantel's CFR reflects the company's standalone creditworthiness, as expressed by its baseline credit assessment (BCA) of ba3, as well as its high dependence and moderate level of support from the Government of Oman (Ba3 positive), given the government's 51% stake in the company. Omantel's BCA remains on par with the rating of the Government of Oman and reflects the company's (1) dominant market position in the Omani telecommunications market; (2) resilient...

Oman Telecommunications Company S.A.O.G. - June 2022 (LTM): Peer Snapshot - Peer Snapshot – 2022/09/16 – US$ 750.00 – Peer Snapshot: Oman Telecommunications Company S.A.O.G. - June 2022 (LTM) 16 September 2022 (in US millions) FYE Dec-20 FYE Dec-21 LTM Jun-22 FYE Dec-20 FYE Dec-21 LTM Jun-22 FYE Dec-20 FYE Dec-21 LTM Jun-22 FYE Dec-20 FYE Dec-21 LTM...

Oman Telecommunications Company S.A.O.G. - December 2021 (LTM): Peer Snapshot - Peer Snapshot – 2022/05/03 – US$ 750.00 – Peer Snapshot: Oman Telecommunications Company S.A.O.G. - December 2021 (LTM) 3 May 2022 (in US millions) FYE Dec-19 FYE Dec-20 LTM Dec-21 FYE Dec-19 FYE Dec-20 LTM Dec-21 FYE Dec-19 FYE Dec-20 LTM Dec-21 FYE Dec-19 FYE Dec-20 LTM Dec-21...

Oman Telecommunications Company S.A.O.G. - September 2021 (LTM): Peer Snapshot - Peer Snapshot – 2021/12/28 – US$ 750.00 – ¬ 2021 Moody's Corporation, Moody's Investors Service, Inc., Moody's Analytics, Inc. and/or their licensors and affiliates (collectively, "MOODY'S"). All rights reserved. CREDIT RATINGS ISSUED BY MOODY'S CREDIT RATINGS AFFILIATES ARE...

Oman Telecommunications Company S.A.O.G.: Update following the change of outlook to stable - Credit Opinion – 2021/10/20 – US$ 250.00 – ...On 19 October 2021, we affirmed Oman Telecommunications Company S.A.O.G.'s (Omantel) Ba3 Corporate Family Rating (CFR) and changed the outlook to stable from negative, a direct consequence of a similar action on the rating of the Government of Oman. The rating action reflects the strong credit linkages between the Government of Oman and Omantel. This is further reflected in the company's status as a government related issuer with operations concentrated in Oman and whose performance will depend greatly on the local economic developments. Omantel's CFR reflects the company's standalone creditworthiness, as expressed by its baseline credit assessment (BCA) of ba3, as well as its high dependence and moderate level of support from the Government of Oman (Ba3 stable), given the government's 51% stake in the company. Omantel's BCA remains on par with the rating of the Government of Oman and reflects the company's (1) dominant market position in the Omani telecommunications market; (2) resilient...

Oman Telecommunications Company S.A.O.G.: Update to key credit factors - Credit Opinion – 2021/06/28 – US$ 250.00 – ...Omantel's CFR reflects the company's standalone creditworthiness, as expressed by its baseline credit assessment (BCA) of ba3, as well as its high dependence and moderate level of support from the Government of Oman (Ba3 Negative), given the government's 51% stake in the company. Omantel's BCA remains on par with the rating of the Government of Oman and reflects the company's (1) dominant market position in the Omani telecommunications market; (2) resilient, although slightly weakening, operating performance, supported by the necessity- like consumer spending on telecommunications services despite the slowdown in Oman's economy; (3) high EBITDA margin of above 50%; and (4) good liquidity. The BCA also takes into account (1) the potential pressure on Omantel's revenue and cash flow following the introduction of a third mobile operator in Oman, (2) the company's increased leverage following the Mobile Telecommunications K.S.C.P (Zain) acquisition in 2017, and (3) the concentration of Omantel's...

Oman Telecommunications Company S.A.O.G.: Tower sales is credit positive - Issuer Comment – 2021/05/17 – US$ 200.00 – ...On 11 May 2021, Oman Telecommunications Company S.A.O.G (Omantel) announced that it entered into an agreement to sell its passive mobile tower infrastructure assets to Helios Towers plc (B2 stable) for a total cash consideration of $575 million. Omantel will subsequently enter into a long term master service agreement to continue to use the towers and will use the cash proceeds to repay debt. The transaction is credit positive for Omantel, because it will result in a reduction of leverage once the transaction is completed as well as a reduction in capex over time. Under the agreement, Omantel will sell 2,890 towers in Oman to Helios Towers and will enter into a lease and service contract for a period of 15 years with renewal options. As part of the agreement, Helios Towers has also committed to build a minimum of 300 additional new towers over the next 7 years. This will result in a decrease in Omantel's capex over the medium term as the company will be reducing its passive infrastructure...