Fitch downgrades Batelco to B+

Fitch Ratings said it downgraded Bahrain Telecommunications Co.'s long-term issuer default rating to B+ from BB-. Fitch also assigned Batelco a senior unsecured rating of B+, in line with the company's issuer rating.

“This rating action follows Fitch's downgrade on Aug. 14, 2020 of Bahrain's long-term foreign- and local-currency IDRs to B+ from BB-,” Fitch said in a press release. Bahrain’s government owns a 77% stake in the company.

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