Oman Telecommunications Company S.A.O.G.: Update following Oman's sovereign rating downgrade

Oman Telecommunications Company S.A.O.G.: Oman awards license to third mobile operator, a credit negative for Omantel - Issuer Comment – 2021/01/07 – US$ 200.00 – ...On 5 January, the Sultan of Oman, His Majesty Sultan Haitham Bin Tarik, issued a royal decree (No. 4/2021) granting a first class license to Oman Future Telecommunications Company (OFT), making it the third mobile operator in Oman, in addition to Oman Telecommunications Company S.A.O.G. (Omantel, Ba3 negative) and Ooredoo Oman. The move is credit negative for Omantel because a third operator will increase competition in the Omani market and dent Omantel's revenue and cash flow generation in an already difficult operating environment. OFT, which signed a strategic agreement with Vodafone Group Plc (Baa2 negative), will roll out a new mobile network and a number of other telecommunication services under the Vodafone brand in Oman. We expect the new operator to start providing services during 2021 now that the license has been granted. We also expect the third operator to tap into the existing customer bases of Omantel and Ooredoo Oman in a shrinking domestic mobile market, decreasing their...

Oman Telecommunications Company S.A.O.G. - June 2020 (LTM): Peer Snapshot - Peer Snapshot – 2020/11/05 – US$ 750.00 – ¬ 2020 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 INVESTORS SERVICE, INC. AND/OR...

Oman Telecommunications Company S.A.O.G.: Update following the downgrade of Omantel's ratings and outlook change to negative - Credit Opinion – 2020/06/25 – US$ 250.00 – ...On 25 June 2020, we downgraded Oman Telecommunications Company S.A.O.G.'s (Omantel) ratings to Ba3 from Ba2, a direct consequence of the downgrade of the rating of the Government of Oman to Ba3 from Ba2. 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 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,...

Oman Telecommunications Company S.A.O.G. - December 2019 (LTM): Peer Snapshot - Peer Snapshot – 2020/04/16 – US$ 750.00 – ¬ 2020 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 INVESTORS SERVICE, INC. AND/OR...

Oman Telecommunications Company S.A.O.G.: Update following the placement of Omantel's ratings on review for downgrade - Credit Opinion – 2020/04/02 – US$ 250.00 – ...On 01 April 2020, we placed Oman Telecommunications Company S.A.O.G.'s (Omantel) ratings on review for downgrade, a direct consequence of the placement on review for downgrade of 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 entity with operations concentrated in Oman and whose performance will depend greatly on the local economic developments. Omantel's CFR reflects reflects the company's standalone creditworthiness, as expressed by its baseline credit assessment (BCA) of ba2, as well as its high dependence and strong level of support from the Government of Oman (Ba2 RUR), 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,...

Oman Telecommunications Company S.A.O.G. - September 2019 (LTM): Peer Snapshot - Peer Snapshot – 2019/12/24 – US$ 750.00 – ¬ 2019 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 INVESTORS SERVICE, INC. AND ITS...

Oman Telecommunications Company S.A.O.G. - June 2019 (LTM): Peer Snapshot - Peer Snapshot – 2019/09/20 – US$ 750.00 – ¬ 2019 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 INVESTORS SERVICE, INC. AND ITS...

Oman Telecommunications Company S.A.O.G. - March 2019 (LTM): Peer Snapshot - Peer Snapshot – 2019/06/21 – US$ 750.00 – ¬ 2019 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 INVESTORS SERVICE, INC. AND ITS...

Oman Telecommunications Company S.A.O.G. - December 2018 (LTM): Peer Snapshot - Peer Snapshot – 2019/03/27 – US$ 750.00 – ¬ 2019 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 INVESTORS SERVICE, INC. AND ITS...

Moody's announces completion of a periodic review of ratings of Oman Telecommunications Company S.A.O.G. - Announcement – 2019/03/21 – US$ 180.00