Qtel has received public credit ratings from three of the world’s most prominent organizations in the field. Moody’s Investors Service has assigned Qtel a senior unsecured issuer rating of “A1”, Standard & Poor’s Ratings Services assigned its “A-” long term and “A-2” short term corporate credit ratings, while Fitch Ratings has assigned an issuer default rating of “A+”, thereby underpinning Qtel’s strong credit quality. The outlook on all ratings is stable, a press note issued here yesterday said. This is the first time that any agency has assigned a credit rating to Qtel. The ratings underline both Qtel’s domestic strength and the success of its international expansion of recent years. Dr Nasser Marafih, CEO, Qtel, said: “Securing a strong investment grade credit profile has always been a key strategic objective for Qtel as it pursues its path towards its Vision 2020, which aims to position the Group as one of the top 20 telecommunications companies in the world by 2020. The strong credit profile assigned today by these well-respected rating agencies confirms our commitment to capital discipline, which we will continue to emphasize as we further grow and develop internationally.” http://www.thepeninsulaqatar.com/Display_news.asp?section=Local_News&subsection=Qatar+News&month=December2008&file=Local_News2008121655628.xml

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