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Bahrain Telecommunications Company Jan 12
Standard & Poors, Jan 2012
Abstract
Strong market position as the former incumbent fixed-line telephony operator in the Kingdom of Bahrain, with good broadband growth potential. Market leader in mobile telephony in a three-player domestic market. Implicit support from the government of the Kingdom of Bahrain. Significant financial flexibility resulting from low leverage. Small scale, which is a long-term risk in terms of competitive position. High percentage of cash outflows paid as dividends. Declining revenues in the domestic market, owing to increasing competition. Uncertain credit impact of potential merger and acquisition activity abroad, especially in countries with above-average country risk. The ratings on Bahrain Telecommunications Company (Batelco), the former incumbent fixed-line and leading mobile telecommunications operator in the Kingdom of Bahrain, are based on the company's...
Companies mentioned in this report are: Bahrain Telecommunications Company
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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