S&P shifts Batelco view to positive

S&P said it revised the outlook for Bahrain Telecommunications Co. to positive from stable following a similar revision to the outlook for Bahrain. The agency also affirmed Batelco’s B+ rating.

“Given Batelco’s very strong link with the government, our rating on Bahrain caps our long-term rating on the company. This is because we believe the government can influence Batelco’s financial policy and strategy, as well as industry regulation or taxation,” S&P said in a press release.

Bahrain owns about a 77% stake in Batelco.

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