Immediate Report - Midroog affirms Bezeq Aa3.il credit rating; stable outlook; removes negative credit review
Midroog Affirms Aa3.il Credit Rating for Bezeq Debentures with a Stable Outlook; Removes Negative Credit Review
Tel Aviv, Israel – May 2, 2021 – Bezeq The Israel Telecommunication Corp., Ltd. (TASE: BEZQ), announced today that Midroog, the Israeli credit rating agency, affirmed its rating of Aa3.il for the Company’s debentures with a stable outlook (unchanged from the previous rating). In addition, Midroog removed Bezeq from its negative credit review.
The rating reflects Midroog's assessment of the size and scope of Bezeq's extensive operations, with activities in all areas of Israeli telecommunications combined with leading market shares in each of the sectors.
The stable rating outlook reflects Midroog's base case scenario regarding company revenues and operating cash flow for the next 1-2 years. Bezeq is expected to maintain its coverage ratios supporting the rating together with relatively strong liquidity.
The above information constitutes a translation of the Immediate Report published by the Company. The Hebrew version was submitted by the Company to the relevant authorities pursuant to Israeli law, and represents the binding version and the only one having legal effect. This translation was prepared for convenience purposes only.