Moody's withdraws Bulgarian telco BTC's ratings

Moody's withdraws Bulgarian telco BTC's ratings

Moody's Investors Service said on Wednesday it withdrew the Ba3 corporate family rating, the B1-PD probability of default rating and the outlook of Bulgarian Telecommunications Company which operates under the Vivacom brand.

At the time of withdrawal, BTC's ratings were on review for downgrade following the announcement that the company had received a buyout offer for its entire share capital from United Group, the ratings agency said in a statement.

At the end of July, Dutch-based telecommunications and media company United Group completed the acquisition of BTC following an antitrust clearance from the European Commission in April.

Moody's also said in its statement:

"RATINGS RATIONALE

Moody's has decided to withdraw the ratings for its own business reasons. Please refer to the Moody's Investors Service Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.

COMPANY PROFILE

Bulgarian Telecommunications Company EAD (Vivacom) is the national telecom incumbent and leading integrated operator in Bulgaria, providing mobile, fixed-line telephony, fixed-line broadband and pay-TV services nationwide."

Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.