Abu Dhabi-Mubasher: Fitch Ratings affirmed Emirates Telecommunications Group Company’s (Etisalat) long-term issuer default rating (IDR) at “A+”, with a “Stable” outlook.

The rating agency also affirmed the telecom operators’ senior unsecured debt at “A+”, according to a statement.

Fitch believes that the government’s support has been integral to the company's international expansion plans.

“Etisalat has a strong position in its domestic market where it generates the majority of the group's EBITDA (64% in 2Q16) and cashflow (75% of EBITDA less capex in 2Q16),” according to a statement.

“Revenue growth from Etisalat's international businesses in 2015 and 1H16 on a reported basis was hampered by negative FX movements,” Fitch noted.