Moody’s has downgraded Saudi Telecom Company’s (STC) [7010.SE] rating to A2 from A1 to reflect the downgrade of the government of KSA rating by one notch to A1 from Aa3. However, Moody’s sees that STC has a solid financial performance, a strong position in the domestic market and strong presence in the data market. But, these positives are partially offset by i) a highly competitive and penetrated market; and ii) low contribution from international operations. Moody’s has assigned a stable outlook to STC. (Moody’s)   Saudi Telecom Company: SAR64.39 as of 17 May 2016, Rating: Buy, FV: SAR79.00 per share, MCap: USD34,341 million, STC AB / 7010.SE