Bloomberg News

Scailex Drops Most in Two Weeks After S&P Maalot Cuts Rating

June 06, 2012

Scailex Corp. (SCIX) dropped the most in almost two weeks after Standard & Poor’s Maalot downgraded the the telecommunications company to ilCC from ILBBB+.

The shares dropped 2.1 percent, the most since May 24, to 9.017 shekels at the close in Tel Aviv.

The outlook on the rating is negative, Standard & Poor’s Maalot said, citing weak funding.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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