Contact Information: For more information please contact: Andrea Dray MIND CTI Ltd. Tel: +972-4-993-6666
MIND CTI Updates on Company Held Auction Rate Securities
| Source: MIND CTI Ltd.
YOQNEAM, ISRAEL--(Marketwire - April 15, 2008) - MIND C.T.I. LTD. (NASDAQ : MNDO ), a leading
provider of convergent end-to-end billing and customer care product based
solutions for tier 2 and tier 3 carriers worldwide, today announced an
update on its auction rate securities rating.
We were advised that the Mantoloking CDO #564616AB6 has been downgraded to
BBB by S&P. The security is still rated A3 and on CreditWatch with negative
implications by Moody's.
The investment grade rating BBB by S&P estimates adequate capacity to meet
financial commitments. Adverse economic conditions are more likely to lead
to a weakened capacity of the issuer to meet its financial commitments.
About MIND
MIND CTI Ltd. is a leading provider of convergent prepaid and postpaid
end-to-end billing and customer care solutions for Wireless, Wireline, VoIP
and Quad-play carriers worldwide. A global company, with over ten years of
experience in providing solutions to carriers, MIND operates from offices
in Europe, Israel and the United States, serving customers in more than 40
countries around the world. For more information, visit MIND at:
www.mindcti.com.
Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the
Private Securities Litigation Reform Act of 1995: All statements other than
historical facts included in the foregoing press release regarding the
Company's business strategy are "forward-looking statements." These
statements are based on management's beliefs and assumptions and on
information currently available to management. Forward-looking statements
are not guarantees of future performance, and actual results may materially
differ. The forward-looking statements involve risks, uncertainties, and
assumptions, including the risks discussed in the Company's filings with
the United States Securities Exchange Commission. The Company does not
undertake to update any forward-looking information.