As negative factors, Midroog noted the Company’s inferior holding structure, the possible fluctuation in B Communications’ share price, and its partial dependence upon receiving dividends from B Communications.
The above description of Midroog’s report is only a summary of the main points and it should not be relied upon as a complete description of the full report. The full and report can be viewed at http://maya.tase.co.il.
Mr. Doron Turgeman, the Company’s CEO commented, “We are very pleased with Midroog’s rating report which speaks for itself. Our current liquidity is sufficient, based on the assumptions of our current work plan, to fully service our debt until 2016. We remain exceedingly confident regarding Bezeq’s position in Israel’s communications market and continue to look for new opportunities to improve our financial flexibility and cash flow position."
The Israeli Tax Authority approved the formula for calculating the adjusted discount rate for all Series C Debentures, for tax purposes. According to the principles set out by the tax authority, as a result of the private placement, the adjusted discount rate for all Series C Debentures is 2.23%. The adjusted discount rate is calculated solely for the purpose of withholding tax in connection with the discount amount upon repayment of the Series C Debentures and it does not reflect the final tax liabilities of Series C bondholders.About Internet Gold Internet Gold is a telecommunications-oriented holding company which is a controlled subsidiary of Eurocom Communications Ltd. Internet Gold’s primary holding is its controlling interest in B Communications Ltd. (TASE and Nasdaq: BCOM), which in turn holds the controlling interest in Bezeq, The Israel Telecommunication Corp., Israel’s largest telecommunications provider (TASE: BZEQ). Internet Gold’s shares are traded on NASDAQ and the TASE under the symbol IGLD. For more information, please visit the following Internet sites: