Maalot places YES debt on watch list

The disruptions in YES broadcasts are taking a toll.

Maalot The Israel Rating Company Ltd. has put the bonds of YES satellite broadcaster on its watch list in view of the ongoing disruptions in the company’s broadcasts. Maalot has given the bonds a BBB- minus rating.

Maalot said that the disruptions in broadcasts have caused a larger-than-expected expense, upset YES’s business plan, and resulted in a number of lawsuits. Maalot said, “Since the start of the disruptions, the company has lost a net 750 subscribers.” YES has 543,000 subscribers.

Maalot added, “Maalot will review the effect of the recent events on the bond rating and will publish its conclusions when the review is completed.”

YES is a subsidiary of Bezeq The Israeli Telecommunication Co. Ltd. (TASE: BEZQ).

Published by Globes [online], Israel business news - www.globes.co.il - on October 14, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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