Moody's Rates Bulgaria's BTC B1, Assigns (P)B1 to Planned 400 Mln Euro Bond

Moody's Rates Bulgaria's BTC B1, Assigns (P)B1 to Planned 400 Mln Euro Bond

Moody's assigned on Monday a B1 corporate family rating (CFR) and B1-PD probability of default rating (PDR) to the Bulgarian Telecommunications Company and a provisional (P)B1 rating to its proposed 400 million euro ($535.4 million) senior secured notes due 2018.
Also on Monday Standard&Poor's Ratings Services assigned a preliminary BB- long-term corporate credit rating to the telco, giving it a positive outlook.
On Friday the Bulgarian Telecommunications Company said it plans to issue a 400 million euro bond to refinance outstanding liabilities. The bond will be listed on the Main Securities Market of the Irish Stock Exchange. 

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