Partner Communications Reports That S&P Maalot Has Affirmed The Company's 'ilAA-' Credit Rating And Revised Outlook To Stable On Expected Leverage Reduction In 2014
Partner Communications Company Ltd. ("Partner" or "the Company")
(NASDAQ:PTNR) (TASE:PTNR), a leading Israeli communications operator, reports
today that Standard & Poor's Maalot ("
Partner Communications Company Ltd. ("Partner" or "the Company") (NASDAQ:PTNR) (TASE:PTNR), a leading Israeli communications operator, reports today that Standard & Poor's Maalot (" S&P Maalot"), has affirmed the company's 'iIAA-' credit rating and revised outlook to stable on expected leverage reduction in 2014. For further information see S&P Maalot's full Report dated June 20, 2013 on: http://www.maalot.co.il/publications/495/FRPar20130620150703.pdfor its informal English translation attached to our Form 6-k to be furnished to the Securities and Exchange Commission today.Forward-Looking StatementsThis press release includes forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, Section 21E of the US Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Words such as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "project", "goal", "target" and similar expressions often identify forward-looking statements but are not the only way we identify these statements. All statements other than statements of historical fact included in this press release regarding our future performance, plans to increase revenues or margins or preserve or expand market share in existing or new markets, plans to reduce expenses, and any statements regarding other future events or our future prospects, are forward-looking statements . We have based these forward-looking statements on our current knowledge and our present beliefs and expectations regarding possible future events. These forward-looking statements are subject to risks, uncertainties and assumptions about Partner, consumer habits and preferences in cellular telephone usage, trends in the Israeli telecommunications industry in general, the impact of current global economic conditions and possible regulatory and legal developments. For further information regarding of some of the risks we face, see "Item 3. Key Information - 3D. Risk Factors", "Item 4. Information on the Company", "Item 5. Operating and Financial Review and Prospects", "Item 8. Financial Information - 8A. Consolidated Financial Statements and Other Financial Information – 8A.1 Legal and Administrative Proceedings" and "Item 11. Quantitative and Qualitative Disclosures about Market Risk" in the Company's 2012 Annual Report (20-F) filed with the SEC on March 19, 2013. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and actual results may differ materially from the results anticipated. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise . The financial results presented in this press release are unaudited financial results . The results were prepared in accordance with IFRS, other than Adjusted EBITDA and free cash flow before interest payments, which are non-GAAP financial measures . The financial information is presented in NIS millions (unless otherwise stated) and the figures presented are rounded accordingly . The convenience translations of the Nominal New Israeli Shekel (NIS) figures into US Dollars were made at the rate of exchange prevailing at March 31, 2013: US $1.00 equals NIS 3.648. The translations were made purely for the convenience of the reader.
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