RAMAT GAN, Israel, March 30, 2016 /PRNewswire/ --
B Communications Ltd. (NASDAQ and TASE: BCOM) announced today that Fitch Ratings ("Fitch") has revised the Company's outlook to positive from stable, while affirming its long-term rating of 'B+'. The instrument rating on the Company's 2021 US$800 million bonds has also been affirmed at 'BB-'.
"As the Fitch's report stated, our controlling stake in Bezeq reflects a strong profile, and we believe that B Communications will continue to create value for its shareholders," said Doron Turgeman, CEO of B Communications. Bezeq's dividend policy according to which Bezeq is distributing, semi-annually, a dividend at a rate of 100% of its net income, creates a high quality and steady cash flow, supporting our strong balance sheet and our ability to create high value to our shareholders. We will continue to take the necessary steps to enhance our credit profile and optimize our capital structure."
About B Communications Ltd.
B Communications is a holding company with a controlling interest in Israel's largest telecommunications provider, Bezeq, The Israel Telecommunication Corp., Ltd. (TASE: BEZQ). B Communications shares are traded on NASDAQ and the TASE under the symbol "BCOM." For more information please visit the following Internet sites:
This press release contains forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward looking statements include, but are not limited to, general business conditions in the industry, changes in the regulatory and legal compliance environments in the industries it is engaged, the failure to manage growth and other risks detailed from time to time in B Communications' filings with the Securities Exchange Commission, including B Communications' Annual Report on Form 20-F. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement.
SOURCE B Communications Ltd.