February 13 (SeeNews) - Moody's Investors Service said it has completed a periodic review of Bulgarian Telecommunications Company's (BTC) ratings, reassessing their appropriateness in the context of the relevant methodology, recent developments, and a comparison of the financial and operating profile to similarly rated peers.
The review did not involve a rating committee, so the publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future, Moody's Investors Service said in a statement on Wednesday.
Moody's Investors Service also said in its statement:
"Bulgarian Telecommunications Company EAD's (Vivacom) Ba3 rating reflects its leading position as the incumbent quadruple-play operator in Bulgaria, its good liquidity and its growth potential, particularly in IPTV services. The rating also takes into consideration its small scale, lack of geographical diversification, and the strong competition in the mobile telecom market in Bulgaria.
The rating is currently on review for downgrade following the announced buy-out offer for its entire share capital from United Group (rated at Adria Midco B.V, B2 Stable).
This document summarizes Moody's view as of the publication date and will not be updated until the next periodic review announcement, which will incorporate material changes in credit circumstances (if any) during the intervening period."