Moody's rates Banglalink notes B1

Moody's Investors Service said it assigned a provisional B1 corporate family rating to Banglalink Digital Communications Ltd. and a provisional B1 senior unsecured rating to its proposed $300 million five-year senior notes due in 2019.

The outlook is stable.

"Banglalink's (P)B1 ratings reflect its strong position in the growing mobile market in Bangladesh and its solid margins and leverage for the rating level. However, the ratings are constrained by funding requirements to support its growth and the challenging operating environment," Moody's assistant vice president and analyst Yoshio Takahashi said in a news release.

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