S&P cuts Nippon Telegraph, NTT Docomo

Standard & Poor's said it lowered its long-term corporate credit and debt ratings on Nippon Telegraph & Telephone Corp. to AA-.

The downgrade reflects S&P’s view that the likelihood of Nippon Telegraph’s profitability recovering to previous levels in the next one to two years has fallen because competition is intensifying in the group's mobile communications business.

At the same time, the agency affirmed Nippon Telegraph’s A-1+ short-term ratings. It also lowered its long-term corporate credit and debt ratings on NTT Docomo Inc., the core subsidiary and mobile communications operator in NTT group, to AA-, and affirmed the short-term ratings on NTT Docomo.

The outlooks on both Nippon Telegraph and NTT Docomo’s long-term corporate credit ratings are stable.

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