Business Wire | Aug 10, 2020 04:13AM EDT

Partner Communications Announces That S&P Maalot Has Reaffirmed the Company's ilA+ Credit Rating and Updated the Company's Rating Outlook to Stable

Aug. 10, 2020

ROSH HA'AYIN, Israel--(BUSINESS WIRE)--Aug. 10, 2020--Partner Communications Company Ltd. ("Partner" or the "Company") (NASDAQ and TASE: PTNR), a leading Israeli communications operatorreports today that Standard & Poor's Global Ratings Maalot Ltd. ("Maalot"), has published a rating report regarding the Company. In its report, Maalot reaffirmed the Company's 'ilA+' credit rating and updated the Company's rating outlook from "negative" to "stable". In addition, Maalot reaffirmed the 'ilA+' rating of the Company's series of debentures. Maalot noted that the main rating action rationale are: "Maalot's assessment that the Company's business and financial risk profile are commensurate with the current rating. The Company will continue to maintain its competitive position in the communications market and present financial ratios in line with the current rating despite the coronavirus pandemic and continued decline in mobile network revenues. However, Partner's expansion in TV services and fiber optic internet mitigates this effect to a certain extent, such that the Company has been able to maintain its competitive position in the communications market."

For further information see S&P Maalot's full Report dated August 10, 2020 on: https://mayafiles.tase.co.il/rpdf/1313001-1314000/P1313830-00.pdf or its informal English translation attached to the immediate report on Form 6-k to be furnished to the Securities and Exchange Commission.

About Partner CommunicationsPartner Communications Company Ltd. is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony, internet and television services). Partner's ADSs are quoted on the NASDAQ Global Select Market(tm) and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).

For more information about Partner see: http://www.partner.co.il/en/Investors-Relations/lobby/

View source version on businesswire.com: https://www.businesswire.com/news/home/20200810005250/en/

CONTACT: Mr. Tamir Amar Chief Financial Officer Tel: +972-54-781-4951

CONTACT: Ms. Liat Glazer Shaft Head of Investor Relations & Corporate Projects Tel: +972-54-781-5051 E-mail: investors@partner.co.il