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Prospect News home > News index > List of issuers B > Headlines for Bahrain Telecommunications Co. BSC > News item |
Fitch rates Batelco notes BBB-
Fitch Ratings said it assigned Bahrain Telecommunications Co. BSC's (Batelco) prospective dollar-denominated notes, to be issued by Batelco International Finance No1 Ltd., an expected rating of BBB-(EXP).
Batelco guarantees the notes.
Fitch said the rating reflects Batelco's leading position in the domestic market, its robust free cash flow on a group level despite elevated competition and EBITDA margin pressure.
Pre-dividend free cash flow generation is one of the strongest among peers in the Middle East, although the company is relatively small, with moderate international diversification compared to regional peers, the agency said.
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