Fitch lifts BT Group view to positive

Fitch Ratings said it revised BT Group plc’s outlook to positive from stable and affirmed the long-term issuer default rating at BBB and short-term issuer default rating at F2.

The agency also revised the outlook on British Telecommunications plc to positive from stable and affirmed its long-term issuer default rating at BBB, short-term issuer default rating at F2, senior unsecured rating at BBB and commercial-paper program at F2.

The outlook revision reflects BT’s stabilized revenues, solid margins, improving leverage and solid cash-flow generation, Fitch said.

The company enjoys a good level of headroom at its current ratings and its metrics compare well with other investment-grade telecoms incumbents, the agency said.

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