Mubasher: Standard & Poor’s (S&P) has revised the credit rating of Bahrain Telecommunications Company's (Batelco), downgrading its long-term ratings to “B+” from “BB-”.
This downgrade of Batelco’s rating followed the sovereign downgrade, according to a bourse statement disclosed on Thursday.
S&P has placed a “Stable” Outlook for Batelco.
“We believe the government can influence the company’s financial policy and strategy, as well as industry regulation or taxation,” S&P added in its recent report.
