OREANDA-NEWS. Fitch Ratings has downgraded the Long-Term Issuer Default Ratings (IDR) of Bahrain Telecommunications Company (Batelco) and Bahrain Mumtalakat Holding Company (Mumtalakat) to 'BB+' from 'BBB-'. The Outlooks are both Stable. A full list of rating actions is below.

KEY RATING DRIVERS

The rating actions follow the downgrade of Bahrain's Long-Term Foreign Currency IDR to 'BB+' from 'BBB-' and Long-term Local Currency IDR to 'BB+' from 'BBB'. The Outlooks are Stable. The Country Ceiling has been affirmed at 'BBB+' and the Short-term Foreign Currency IDR downgraded to 'B' from 'F3' (see 'Fitch Downgrades Bahrain to 'BB+'' Outlook Stable'; dated 28 June 2016 at www. fitchratings. com for Key Rating Drivers and Rating Sensitivities).

Both Batelco and Mumtalakat are government-linked entities and their ratings are constrained by and equalised with Bahrain's rating, respectively.

RATING SENSITIVITIES

See 'Fitch Revises Batelco's Outlook to Negative, Affirms at 'BBB-''; dated 9 December 2015 at www. fitchratings. com for Key Rating Drivers and Rating Sensitivities.

See 'Fitch Revises Mumtalakat's Outlook to Negative; Affirms at 'BBB-''; dated 9 December 2015 at www. fitchratings. com for Key Rating Drivers and Rating Sensitivities.

FULL LIST OF RATING ACTIONS

Batelco

Long-Term IDR: downgraded to 'BB+' from 'BBB-'; Outlook Stable

Batelco International Finance No. 1 Limited: senior unsecured downgraded to 'BB+' from 'BBB-'

Mumtalakat

Long-Term IDR: downgraded to 'BB+' from 'BBB-'; Outlook Stable

Short-term IDR: downgraded to 'B' from 'F3'

Senior unsecured MYR300m notes due 2017, EMTN programme and USD600m Sukuk certificates due 2021 issued under Mumtalakat Sukuk Holding Company: downgraded to 'BB+' from 'BBB-'