Elbit Imaging Ltd. Announces Midroog Ltd., an Affiliate of Moody's Investors Services, Changes Rating of Company
Poster: SySAdmin
Posted on August 20, 2012 at 6:28:01 AM
Elbit Imaging Ltd. Announces Midroog Ltd., an Affiliate of Moody's Investors Services, Changes Rating of Company
TEL AVIV, Israel, August 20, 2012/PRNewswire-FirstCall/ --
Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today, that
Midroog Ltd., an affiliate of Moody's Investors Services, has decided to change the rating
of all of the Company's Series A thought Series G Notes and Series 1 Notes, which are
traded on the Tel Aviv Stock Exchange, from "Baa1/Negative" credit rating, to
"Baa3/Negative" credit rating.
About Elbit Imaging Ltd.
Elbit Imaging Ltd. operates in the following principal fields of business: (i)
Commercial and Entertainment Centers - Initiation, construction and sale of shopping and
entertainment centers and other mixed-use real property projects, predominantly in the
retail sector, located in Central and Eastern Europe and in India; (ii) U.S. Real Property
- Investment in commercial real property in the United States; (iii) Hotels - Hotel
operation and management, primarily in major European cities; (iv) Medical Industries -
(a) research and development, production and marketing of magnetic resonance imaging
guided focused ultrasound treatment equipment and (b) development of stem cell population
expansion technologies and stem cell therapy products for transplantation and regenerative
medicine; (v) Residential Projects - Initiation, construction and sale of residential
projects and other mixed-use real property projects, predominately residential, located
primarily in India and in Eastern Europe; (vi) Fashion Apparel - Distribution and
marketing of fashion apparel and accessories in Israel; and (vii) Other Activities - (a)
venture capital investments and (b) investments in hospitals and farm and dairy plants in
India. We have presently decided to suspend our investment activities in hospitals and
farm and dairy plants in India until we are satisfied that the economy has recovered
sufficiently to resume such activities.
Any forward-looking statements in our releases include statements regarding the
intent, belief or current expectations of Elbit Imaging Ltd. and our management about our
business, financial condition, results of operations, and its relationship with its
employees and the condition of our properties. Words such as "believe," "expect,"
"intend," "estimate" and similar expressions are intended to identify forward-looking
statements but are not the exclusive means of identifying such statements. Actual results
may differ materially from those projected, expressed or implied in the forward-looking
statements as a result of various factors including, without limitation, the factors set
forth in our filings with the Securities and Exchange Commission including, without
limitation, Item 3.D of our annual report on Form 20-F for the fiscal year ended December
31, 2011, under the caption "Risk Factors". Any forward-looking statements contained in
our releases speak only as of the date of such release, and we caution existing and
prospective investors not to place undue reliance on such statements. Such forward-looking
statements do not purport to be predictions of future events or circumstances, and
therefore, there can be no assurance that any forward-looking statement contained our
releases will prove to be accurate. We undertake no obligation to update or revise any
forward-looking statements. The transaction described above involves additional risk
factors associated with transactions of this type that are not included in Item 3.D (under
the caption "Risk Factors") of our annual report on Form 20-F for the fiscal year ended
December 31, 2011. Among other things, credit linked notes involve a high degree of risk
as they represent an investment linked to the credit of certain reference item(s)which
will be influenced (positively or negatively) by fluctuations in the credit of the
relevant reference item(s), the time remaining to the redemption date and the
creditworthiness of the reference item which in turn may be affected by the economic,
financial and political events in one or more jurisdictions, and investors in reference
item linked notes may risk losing their entire investment. In the event of the occurrence
of certain circumstances specified in the applicable final terms, the relevant Issuer's
delivery or payment obligation may be postponed or replaced by an obligation to pay other
amounts calculated by reference to the value of obligations issued by such Reference
Item(s), and hence, there is no assurance that the goals or expected results of the
transaction will be achieved.
For Further Information:
Company Contact:
Shimon Yitzhaki
Chairman of the Board of Directors
Tel: +972-3-608-6048
shimony @elbitimaging.com
Investor Contact:
Mor Dagan
Investor Relations
Tel: +972-3-516-7620
mor@km-ir.co.il
Source: Elbit Imaging Ltd.
TEL AVIV, Israel, August 20, 2012/PRNewswire-FirstCall/ --
Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today, that
Midroog Ltd., an affiliate of Moody's Investors Services, has decided to change the rating
of all of the Company's Series A thought Series G Notes and Series 1 Notes, which are
traded on the Tel Aviv Stock Exchange, from "Baa1/Negative" credit rating, to
"Baa3/Negative" credit rating.
About Elbit Imaging Ltd.
Elbit Imaging Ltd. operates in the following principal fields of business: (i)
Commercial and Entertainment Centers - Initiation, construction and sale of shopping and
entertainment centers and other mixed-use real property projects, predominantly in the
retail sector, located in Central and Eastern Europe and in India; (ii) U.S. Real Property
- Investment in commercial real property in the United States; (iii) Hotels - Hotel
operation and management, primarily in major European cities; (iv) Medical Industries -
(a) research and development, production and marketing of magnetic resonance imaging
guided focused ultrasound treatment equipment and (b) development of stem cell population
expansion technologies and stem cell therapy products for transplantation and regenerative
medicine; (v) Residential Projects - Initiation, construction and sale of residential
projects and other mixed-use real property projects, predominately residential, located
primarily in India and in Eastern Europe; (vi) Fashion Apparel - Distribution and
marketing of fashion apparel and accessories in Israel; and (vii) Other Activities - (a)
venture capital investments and (b) investments in hospitals and farm and dairy plants in
India. We have presently decided to suspend our investment activities in hospitals and
farm and dairy plants in India until we are satisfied that the economy has recovered
sufficiently to resume such activities.
Any forward-looking statements in our releases include statements regarding the
intent, belief or current expectations of Elbit Imaging Ltd. and our management about our
business, financial condition, results of operations, and its relationship with its
employees and the condition of our properties. Words such as "believe," "expect,"
"intend," "estimate" and similar expressions are intended to identify forward-looking
statements but are not the exclusive means of identifying such statements. Actual results
may differ materially from those projected, expressed or implied in the forward-looking
statements as a result of various factors including, without limitation, the factors set
forth in our filings with the Securities and Exchange Commission including, without
limitation, Item 3.D of our annual report on Form 20-F for the fiscal year ended December
31, 2011, under the caption "Risk Factors". Any forward-looking statements contained in
our releases speak only as of the date of such release, and we caution existing and
prospective investors not to place undue reliance on such statements. Such forward-looking
statements do not purport to be predictions of future events or circumstances, and
therefore, there can be no assurance that any forward-looking statement contained our
releases will prove to be accurate. We undertake no obligation to update or revise any
forward-looking statements. The transaction described above involves additional risk
factors associated with transactions of this type that are not included in Item 3.D (under
the caption "Risk Factors") of our annual report on Form 20-F for the fiscal year ended
December 31, 2011. Among other things, credit linked notes involve a high degree of risk
as they represent an investment linked to the credit of certain reference item(s)which
will be influenced (positively or negatively) by fluctuations in the credit of the
relevant reference item(s), the time remaining to the redemption date and the
creditworthiness of the reference item which in turn may be affected by the economic,
financial and political events in one or more jurisdictions, and investors in reference
item linked notes may risk losing their entire investment. In the event of the occurrence
of certain circumstances specified in the applicable final terms, the relevant Issuer's
delivery or payment obligation may be postponed or replaced by an obligation to pay other
amounts calculated by reference to the value of obligations issued by such Reference
Item(s), and hence, there is no assurance that the goals or expected results of the
transaction will be achieved.
For Further Information:
Company Contact:
Shimon Yitzhaki
Chairman of the Board of Directors
Tel: +972-3-608-6048
shimony @elbitimaging.com
Investor Contact:
Mor Dagan
Investor Relations
Tel: +972-3-516-7620
mor@km-ir.co.il
Source: Elbit Imaging Ltd.