S&P lowers Bahrain Telecom

S&P Global Ratings said it lowered its long-term corporate credit rating on Bahrain Telecommunications Co. (Batelco) to BB- from BB.

The outlook remains stable.

The B short-term corporate credit rating was affirmed.

At the same time, S&P said it lowered the issue ratings on the senior unsecured notes due 2020 issued by Batelco International Finance No. 1 Ltd. to BB- from BB.

S&P said the downgrade of Batelco follows a similar action on Bahrain on Dec. 9.

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