Moody's may cut Bezeq

Moody's Investors Service said it placed on review for possible downgrade the A3 long-term senior unsecured bond and bank loan ratings of Bezeq, The Israel Telecommunication Corp. Ltd.

The rating review process follows the announcement that representatives of the state have decided to select Ap-Sab-Ar Holdings Ltd. as the preferred bidder in the off-the-floor sale proceeding of the shares of the Bezeq held by the State as well as options to purchase Bezeq's shares held by the state.

Moody's said the ratings review will focus on the uncertainties resulting from the new equity holding consortium and the fact that there might be a change in Bezeq's financial policies and strategy.

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