S&P: Vivacom outlook to negative

Standard & Poor's said it revised its outlook on Bulgarian Telecommunications Co. EAD (Vivacom) to negative from positive.

The company’s long-term corporate credit rating was affirmed at BB-.

S&P said the outlook revision reflects its assessment that the planned refinancing of the €150 million bridge loan at Vivacom's holding company with equity is now unlikely to happen, and that the group may instead try to refinance it with new debt before it matures in May 2015.

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