Moody's: eAccess bonds Ba3

Moody's Investors Service said it assigned a Ba3 rating to eAccess Ltd.'s seven-year senior foreign bonds, which are guaranteed by eMobile, eAccess's subsidiary.

The outlook is stable.

The specific bond issues are a $420 million senior bond due 2018 and a €200 million senior bond due 2018.

The outlook is stable.

The ratings incorporate the company's competitive position in its core market, high business risk and weak balance sheet, Moody's said.

It also incorporates a subordination factor of one-notch down due to the company's large amount of secured debt, the agency said.

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