Sep. 17, 2009 (Business Wire) -- Partner Communications Company Ltd. ("Partner" or "the Company") (NASDAQ:PTNR) (TASE:PTNR), a leading Israeli mobile communications operator, announces that Standard & Poor's Maalot ("S&P Maalot") has revised the CreditWatch status of the Company's 'ilAA-' bond rating from "developing" to "negative".
In its report, S&P Maalot stated that: "The revision of CreditWatch status to negative from developing on the 'ilAA-' rating reflects our view that the rating on Partner could remain the same or be lowered during the next few weeks as a result of the expected high leverage at Scailex Corporation Ltd. once the acquisition of control in the company, announced on August 12, 2009, is completed."
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/
