S&P downgrades Batelco

S&P said it lowered the long-term corporate credit rating on Bahrain Telecommunications Co. (Batelco) to B+ from BB-.

The outlook is stable.

At the same time, the agency affirmed the B short-term corporate credit rating on the company.

The rating follows similar action on Bahrain.

S&P said the rating on Batelco is constrained at the B+ level mainly to reflect a view that the government can influence the company's financial policy and strategy, as well as industry regulation or taxation.

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