Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference headquartered in Bahrain with operations across seven countries, on Thursday received its first public credit ratings. Leading global credit ratings agencies Fitch and Standard & Poor’s Ratings Services, both have affirmed the Group’s strong operating performance and financial position issuing it with investment grade ratings.
Fitch has assigned Batelco Group with an issuer default rating of BBB- and Standard & Poor’s has issued the Group with a BBB- long-term and an A-3 short-term foreign and local currency corporate credit rating.
“These ratings underpin Batelco Group’s strong credit quality and reflect its market leading position in Bahrain’s telecommunications sector as underscored by its robust position in the mobile market and other segments, as well as the Group’s continued strong profitability and significant cash flow generation, which supports a sound liquidity profile,” Batelco in a statement said.