Elbit Imaging Ltd. Announces Standard & Poor's Maalot Changes Rating of Company and its Subsidiary Notes
TEL AVIV, Israel, September 6, 2011 /PRNewswire/ --
Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today, that Standard & Poor's Maalot, has decided to change the rating of all of the Company's Series A through Series G Notes and Series 1 Notes and of its subsidiary, Plaza Centers N.V.'s Series A and Series B Notes, which are traded on the Tel Aviv Stock Exchange, from an "ilA/Watch Negative" credit rating, to an "ilBBB+/Negative" credit rating. Both the Company and Plaza Centers N.V. were removed from Watch-list.
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