Standard and Poor's Lowers Batelco's Outlook
2020-04-03 - 6:21 am
Bahrain Mirror: Standard and Poor's Global Ratings revised its outlook on Batelco to stable from positive and affirmed its 'B+/B' long- and short-term issuer credit ratings.
Standard & Poor's has downgraded Batelco's outlook after it revised the outlook on Bahrain to stable from positive. S&P considers Batelco to be a government-related entity due to the sovereign's stake of about 77% in the company.
Batelco, founded in 1981, provides telecommunications services in Bahrain and has investments in telecommunications services companies in a number of countries, including Jordan and Kuwait, according to the company's financial statements published at the end of last year on the Bahrain Stock Exchange website.