Weather In Bulgaria On April 30: Cloudy with Rain and Thunderstorms Expected
Over the next 24 hours, much of the country will experience significant cloudiness, accompanied by widespread rain in Central and Eastern Bulgaria
Moody's has downgraded Telekom Austria's ratings to Baa2 after its recent debt-financed acquisition of mobile spectrum in an auction in Austria.
The rating agency considers that the EUR 1 B acquisition will have a material negative effect on the company's financial ratios.
"We are downgrading Telekom Austria's ratings mainly because its recent debt-financed acquisition of mobile spectrum will have a negative impact on the group's credit metrics," says Carlos Winzer, a Moody's Senior Vice President and lead analyst for Telekom Austria.
"Although Telekom Austria's mobile business will benefit from the additional spectrum, the debt-financed nature of the acquisition increases the group's financial risk beyond the level of tolerance for the previous rating."
The outlook on the ratings is stable.
Telekom Austria shook up last month the senior management of its Bulgarian subsidiary, saying the country is the most difficult market within the group.
“Bulgaria is currently the most difficult market within the Telekom Austria Group. With Thanasis Katsiroubas we were able to recruit an excellent expert on the Bulgarian market and one of the most experienced telecom top managers within the Group for this challenging task," said Hannes Ametsreiter, CEO of the Telekom Austria Group.
Telekom Austria named Thanasis Katsiroubas on September 16 as chief executive of its Mobiltel business in Bulgaria, where the market is locked in fierce competition.
Katsiroubas moves from being CEO of Vip mobile in Serbia to replace Andreas Maierhofer, who did not renew his contract after 10 years working for the group abroad, the company said. Mobiltel marketing head Martin Lippautz was also leaving.
Katsiroubas, 51, has more than two decades of experience in the sector, and has also served as CEO of Mobiltel rival Globul.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Bulgaria's National Bank has disclosed the country's external debt figures, revealing a notable increase in gross foreign debt at the end of February 2024
In March, there was a significant uptick in Bulgarians traveling abroad, marking a 19.1% increase from the previous year, amounting to 679.1 thousand trips
Bulgargaz, the leading public gas supplier in Bulgaria, anticipates a notable decrease in the price of natural gas for the upcoming month of May. According to Lyudmila Vitanova
The director of "SOF Connect," the airport's concessionaire, stated to BNR that Sofia Airport anticipates accommodating 7.4 million passengers this year
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
Eurostat's latest findings have shed light on the shifting landscape of household energy prices in the European Union, with Bulgaria emerging as a frontrunner in affordability.
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022