Moody's Investors Service has today extended the review for possible downgrade on Pakistan Mobilink Communications Limited ("Mobilink") B2 local currency corporate family rating and Caa1 senior unsecured bond rating. The extension of the review period reflects Moody's ongoing concerns about Mobilink's ability to meet its covenants under bank loan...
Orascom Telecom, parent organisation of Pakistan’s leading cellular company, is in talks to acquire a microfinance bank in order to enter the financial business and strengthen its appearance in the country. The News has learnt that a delegation of Orascom comprising almost seven members including the former CEO Mobilink Zohair Khaliq is currently...
Mobilink labeled as largest cellular network in Pakistan got corporate credit rating and long-term senior unsecured debt rating lowered by Standard & Poor's Ratings Services to 'CCC+' from 'B-'. The outlook on the corporate credit rating is negative. The B- rating was described "Highly Speculative", while the new CCC+ rating is classed as "Substantial...
