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S&P affirms 02 Czech at BBB-, then withdraws it at company's request [IntelliNews - Weekly Reports](IntelliNews - Weekly Reports Via Acquire Media NewsEdge) Standard & Poor's Ratings Services has affirmed the long-term corporate credit rating of O2 Czech Republic at BBB- and subsequently withdrew the rating at the telecommunications company request. The outlook was negative, the ratings agency said in a statement on October 29. At the time of the withdrawal, 02 Czech rating reflected S&P's view that its business profile is "satisfactory" and its financial risk profile is "intermediate". 02 Czech changed its name from Telefonica Czech Republic following the company's acquisition by investment and financial group PPF earlier this year. 02 Czech is the country's largest telecommunications company providing services to nearly 8mn mobile and fixed-line users. The company competes on the local market with the Czech units of Deutsche Telekom's T-Mobile and UK's Vodafone. (c) 2014 Emerging Markets Direct Media Holdings LLC Provided by SyndiGate Media Inc. (Syndigate.info). |