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S&P lifts Bulgarian Telecommunications
S&P said it raised its long-term corporate credit rating on Bulgarian Telecommunications Co. EAD (Vivacom) to B+ from B-. The outlook is stable.
S&P removed the rating from CreditWatch, where S&P had placed it with negative implications on Oct. 22, 2015, and with developing implications on April 2, 2015.
At the same time, S&P raised its long-term issue rating on Vivacom's senior secured debt to B+ from B-.
S&P revised up the group credit profile after the €150 million loan at Vivacom's Luxembourg-based holding company, InterV Investment Sarl (InterV) was refinanced as part of a change in ownership. The loan matured in May 2015.
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