“Midrug” Rating Company Reissues An A1 Rating for 012 Smile.Communications’ Series A Bonds, SMLC Will Be Able Issue Up To NIS 320M in Additional Debt At the Same A1 Rating - Correction
PETACH TIKVA, Israel, July 14, 2008 – 012 Smile.Communications (NASDAQ Global Market and TASE: SMLC), a growth-oriented provider of communication services in Israel, today announced that Midrug Ltd., an Israeli financial rating company which is affiliated with Moody's, has reissued the A1 rating originally awarded to the Company’s Series A debentures that were issued in 2007. Midrug concluded that the A1 rating would continue if the Company issues new debt of up to NIS 320 million (approximately $ 95 million).
Copies of the complete Midrug report are available in Hebrew at http://www.midroog.co.il.
Commenting on the news, Ms. Stella Handler, CEO of 012 Smile.Communications, said, “We are proud to receive this clear vote of confidence in our company and its prospects. By enhancing our financing capability, this rating is an important step that will help us to enter Israel’s mobile market and to execute our long term plan for growth.”