S&P affirms Batelco

Standard & Poor’s said it affirmed its BB+/B long- and short-term corporate credit ratings on Bahrain Telecommunications Co. (Batelco).

The outlook remains stable.

At the same time, the agency also affirmed its BB+ issue ratings on the senior unsecured notes due 2020 issued by Batelco International Finance No. 1.

S&P said the affirmation reflects continued very low leverage at Batelco, as well as a positive evolution of S&P’s financial policy assessment for Batelco, combined with a negative evolution of S&P’s comparative rating analysis, based on the fiscal situation of Bahrain (BBB-/negative/A-3), Batelco’s controlling shareholder.

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