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:
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.
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."