Mubasher: Fitch Ratings has downgraded the rating of Ooredoo to “A-” from “A”.

The ratings agency has also changed the Qatari telecom company outlook from negative to stable.

Ooredoo reported a 13% increase in its net profit during the fourth quarter of 2017, registering QAR 408 million, compared to QAR 361 million in the year-ago period.

The company’s ordinary general meeting (OGM) recently approved distributing cash dividends, at 35% of the company’s capital, equalling QAR 3.5 per share.