Thursday, June 28, 2007

Romania's Telemobil rated 'B-' with stable outlook on shareholder support - S&P

MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it has assigned a 'B-' long-term corporate credit rating, with a stable outlook, to Telemobil SA.

The rating agency attributed the rating to the financial assistance that the Romanian mobile operator is getting from its shareholders well as its focus on the provision of affordable wireless data services.

S&P expects the group's liquidity to remain sufficient to fund growth over the next two years.

However, it sees Telemobil's vulnerable competitive positions, weak liquidity, and high leverage as constraints on its ratings.

S&P also assigned 'B-' senior secured debt rating and '4' recovery rating to the Romanian company's proposed 125 mln usd senior secured notes due 2014.

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