S&P ups Partner senior unsecured debt to BB-

Standard & Poor's said it raised its long-term ratings on Partner Communications Co. Ltd. to BB+ from BB- and its senior unsecured debt rating to BB- from B-, reflecting the company's improved financial policy. The outlook is stable.

At the same time, S&P raised its senior unsecured debt rating on Partner's $175 million notes to BB- from B.

S&P said the upgrade reflects Partner's clarified financial policy and simplified shareholding structure, in addition to the continued cash generation of its business despite significant investments in third-generation infrastructure in 2004.

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