Mubasher: Standard & Poor's downgraded its long-term credit rating on Bahrain Telecommunications Company (Batelco) from (BB) to (BB-).
The company said that the rating firms rated its long-term credit at (B), with a stable outlook, according to a bourse filing on Tuesday.
In November, Batelco confirmed investing BHD 26 million in a broadband network and developing the country’s Communications infrastructure.
Batelco said that the investment comes as part of Bahrain’s fourth national telecommunications plan.
