S&P pulls Vivacom from watch

S&P said it Bulgarian Telecommunications Co. EAD’s (Vivacom) to B from B+ removed it from CreditWatch and withdrew it at the Vivacom’s request.

Telecom Provider United Group completed its acquisition of Vivacom on July 31.

“We lowered the rating because of United Group's weaker credit quality and more aggressive financial policy. Vivacom's credit quality has therefore weakened following completion of the transaction, because it is now owned by a lower-rated company with higher leverage,” S&P said in a press release.

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