Moody’s reviews Vivacom for downgrade

Moody’s Investors Service said it placed Bulgarian Telecommunications Co. EAD’s (Vivacom) Ba3 corporate family rating and B1-PD probability of default rating on review for downgrade.

Vivacom received an offer to be bought out by United Group BV, which isn’t rated as high as Vivacom, for an undisclosed amount.

“We have placed Vivacom’s ratings on review for downgrade to reflect the likely increase in financial risk, resulting from the company being acquired by a lower rated entity,” said Carlos Winzer, a Moody’s senior vice president and lead analyst for Vivacom, in a press release.

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