MONTREAL-Canadian carrier Telesystem International Wireless Inc. said its common shares have been approved for trading on the Nasdaq National Market. The company’s common shares are currently trading on the Nasdaq SmallCap Market and will be moved up for trading on the national market under the symbol TIWI starting Wednesday.
In addition, Standard & Poor’s Ratings Services affirmed its B- long-term corporate credit rating on TIW with a stable outlook. TIW owns wireless carriers in Romania and the Czech Republic.
“Although TIW currently has a cash balance estimated at more than $70 million and has no debt and only modest corporate overhead expenses, the company is still dependent on MobiFon Holdings (in Romania) for dividends in the long term,” said S & P.
