Oman Telecommunications Company S.A.O.G.: Update following the sovereign rating action on Oman - Moody's Global Credit Research

Oman Telecommunications Company S.A.O.G.: Update following the sovereign rating action on Oman

Oman Telecommunications Company S.A.O.G.: Update following the sovereign rating action on Oman - Moody's Global Credit Research
Oman Telecommunications Company S.A.O.G.: Update following the sovereign rating action on Oman
Published Mar 14, 2019
13 pages (6598 words) — Published Mar 14, 2019
Price US$ 250.00  |  Buy this Report Now

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Brief Excerpt:

... corporate family rating (CFR) Ba1 reflects its baseline credit assessment (BCA) of ba1, which incorporates the strong probability that the Government of Oman (Ba1 negative) will extend support to Omantel, should the need arise, given the government's 55% stake in the company. Omantel's BCA of ba1 remains on par with the credit risk assessment of the government of Oman, and reflects (1) dominant market position in the Omani telecommunications market; (2) resilient operating performance supported by the necessity-like consumer spending characteristics on telecommunications services, despite the slowdown in Oman's economy; (3) industry leading EBITDA margins around 50%; (4) synergies that Omantel expects to unlock following the acquisition of Zain which will reduce debt/EBITDA towards 2.75x within 12-18 months and (5) good liquidity. The BCA also takes into account Omantel's small scale in terms of revenue compared with similarly rated telecommunications...

  
Report Type:

Credit Opinion

Company:
Issuer
Oman Telecommunications Company S.A.O.G.
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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...

Oman Telecommunications Company S.A.O.G. - September 2018 (LTM): Peer Snapshot - Peer Snapshot – 2019/01/25 – US$ 750.00 – ... Q.P.S.C. Emirates Telecommunications Grp Co PJSC Turkcell Iletisim Hizmetleri A.S....

Oman Telecommunications Company S.A.O.G. - June 2018 (LTM): Peer Snapshot - Peer Snapshot – 2018/09/19 – US$ 750.00 – ... Emirates Telecommunications Grp Co PJSC Saudi Telecom Company Turkcell Iletisim Hizmetleri A.S....

Oman Telecommunications Company S.A.O.G. - March 2018 (LTM): Peer Snapshot - Peer Snapshot – 2018/07/04 – US$ 750.00 – ... Iletisim Hizmetleri A.S. Emirates Telecommunications Grp Co PJSC Saudi Telecom Company...

Oman Telecommunications Company S.A.O.G.: Update following the issuance of USD notes - Credit Opinion – 2018/04/09 – US$ 250.00 – ... long-term issuer rating of Baa3 reflects its baseline credit assessment (BCA) of baa3, which incorporates the strong probability that the Government of Oman (Baa3 negative) will extend support to Omantel, should the need arise, given the government's 55% stake in the company. Omantel's BCA, which reflects the company's fundamental credit quality on a standalone basis, takes into account its: (1) debt/EBITDA, which is trending towards 2.75x over the next 18 months, and industry-leading EBITDA margin of 40.7% as of 31 December 2017; (2) dominant position in the Omani telecommunications market; (3) cash flow generation, which is linked to the company's US dollar and Omani rial debt capital structure, against the backdrop of the fixed conversion rate of Omani rials into US dollars; (4) resilient operating performance, supported by the necessity-like nature of telecommunications services and despite the slowdown in Oman's economy; and (5)...

Moody's assigns Baa3 rating to Omantel's new notes - Rating Action – 2018/04/05 – US$ 180.00 – ...MOODY'S CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS OR MOODY'S PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained...

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Moody's Global Credit Research—Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.

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MLA:
Moody's Global Credit Research. "Oman Telecommunications Company S.A.O.G.: Update following the sovereign rating action on Oman" Mar 14, 2019. Alacra Store. May 03, 2024. <http://www.alacrastore.com/moodys-credit-research/Oman-Telecommunications-Company-S-A-O-G-Update-following-the-sovereign-rating-action-on-Oman-PBC_1163999>
  
APA:
Moody's Global Credit Research. (). Oman Telecommunications Company S.A.O.G.: Update following the sovereign rating action on Oman Mar 14, 2019. New York, NY: Alacra Store. Retrieved May 03, 2024 from <http://www.alacrastore.com/moodys-credit-research/Oman-Telecommunications-Company-S-A-O-G-Update-following-the-sovereign-rating-action-on-Oman-PBC_1163999>
  
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