FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

Report of Foreign Private Issuer

 

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

 

 

Report on Form 6-K dated November 15, 2007

 

Magyar Telekom Plc.

(Translation of registrant’s name into English)

 

Budapest, 1013, Krisztina krt. 55, Hungary

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  x      Form 40-F  o

 

 

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  o      No  x

 

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-           

 

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Investor Release                                                                                                      

 

Contacts
Krisztina Förhécz		Magyar Telekom IR		+36 1 457 6029
Rita Walfisch		Magyar Telekom IR		+36 1 457 6036
investor.relations@telekom.hu

 

Magyar Telekom initiates withdrawal of credit ratings

 

Budapest – November 15, 2007 – Magyar Telekom (Reuters: NYSE: MTA.N, BÉT: MTEL.BU and Bloomberg: NYSE: MTA US, BÉT: MTELEKOM HB), the leading Hungarian telecommunications service provider, announces that it has initiated the withdrawal of its credit ratings from both Standard & Poor’s and Moody’s.

 

Magyar Telekom currently holds an A- credit rating from Standard & Poor’s and Baa1 from Moody’s. The Company has no outstanding debt in the public market or any running MTN (Medium-Term Note) Programme, and does not plan to access the public debt markets for funding in the foreseeable future.

 

As of September 30, 2007, the total debt of Magyar Telekom was HUF 375.9 billion, the company’s net debt was HUF 274.2 billion, while the net debt ratio (net debt to net debt plus total equity) was 32.2%.

 

 

 

This investor news contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not have undue reliance placed upon them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

 

Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors are described in, among other things, our Annual Report on Form 20-F for the year ended December 31, 2006 filed with the U.S. Securities and Exchange Commission.

 

 

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Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

Magyar Telekom Plc.

(Registrant)

 

 

	By:
		Szabolcs Czenthe
		Director
		M&A Execution and Investor Relations

 

Date: November 15, 2007

 

 

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