Sep. 13, 2009 (Business Wire) -- Partner Communications Company Ltd. ("Partner" or "the Company") (Nasdaq:PTNR)(TASE:PTNR), a leading Israeli mobile communications operator, announces that Midroog Ltd. ("Midroog"), an affiliate of Moody’s Investors Service, revised the outlook of the Company's "Aa2" bond rating from "stable" to “negative”.
In its report, Midroog stated that: "The negative outlook results from the uncertainty regarding the impact of the change of control in the Company on the business, managerial and financial parameters. Midroog estimates that the change of control will lead to an increase in the financial debt and in the leverage level. In addition Midroog assumes that the change of control will lead to an increase in the dividend distribution."
The entire report can be found on Midroog's website:
http://www.midroog.co.il/
About Partner Communications
Partner Communications Company Ltd. ("Partner") is a leading Israeli provider of telecommunications operator (cellular, fixed-line telephony and Internet Services Provider) under the orange™ brand. The Company provides mobile communications services to 2.944 million subscribers in Israel (as of June 30, 2009). Partner’s ADSs are quoted on the NASDAQ Global Select Market™ and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).
Partner is a subsidiary of Hutchison Telecommunications International Limited ("Hutchison Telecom"), a leading global provider of telecommunications services. Hutchison Telecom currently offers mobile and fixed line telecommunications services in Israel, and operates mobile telecommunications services in Thailand, Sri Lanka, Vietnam and Indonesia. It was the first provider of 3G mobile services in Israel and operates brands including “Hutch”, “3” and “orange”. Hutchison Telecom, a subsidiary of Hutchison Whampoa Limited, is a listed company with American Depositary Shares quoted on the New York Stock Exchange under the ticker "HTX" and shares listed on the Stock Exchange of Hong Kong under the stock code "2332". For more information about Hutchison Telecom, see www.htil.com.
For more information about Partner, see http://www.orange.co.il/investor_site/
