Senior secured notes by Bite Finance International, the owner of the Lithuanian company, due in 2014, have been affirmed at B- as well, the ratings agency said in a press release.
"Bite's ratings are supported by the continued cash flow generation improvements in its Latvian operations and the relatively stable underlying performance, excluding regulatory cuts, in its Lithuanian operations," it said.
The Bite Group, which includes the mobile operators Bite Lietuva and Bite Latvija, posted 38.5 million litas (EUR 11.16 m) in EBITDA for the first quarter of this year, up by 8.5 percent year-on-year. The group's first-quarter revenues increased by 4.1 percent to 145.1 million litas.
2012-05-03 11:28
Fitch affirms Lithuanian mobile service provider Bite's rating at B-
Fitch Ratings has affirmed the long-term credit rating of Lithuania's mobile operator Bite Lietuva at B-, with a stable outlook.
UAB „Bitė Lietuva“ / „Bitė Lietuva“ nuotr.
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