Partner Communications company Ltd. (“Partner” or the “company”) (NASDAQ and TASE: PTNR), a Israeli communications operator reports today that Standard & Poor´s Global Ratings Maalot Ltd. (“Maalot”), has published a rating report regarding the company, the company said.
In its report, Maalot reaffirmed the company´s ´ilA+´ credit rating and updated the company´s rating outlook from “stable” to “negative”. In addition, Maalot reaffirmed the ´ilA+´ rating of the company´s series of debentures.
In accordance with the Maalot report, the negative outlook reflects Maalot´s assessment that the intense competition in the entire telecommunications market will continue in 2019-2020, and an additional erosion will occur in the company´s operating performance that will lead to adjusted profitability (EBITDA margin), below 20%.
Partner Communications is an Israeli provider of telecommunications services (cellular, fixed-line telephony, Internet and television services). 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).