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Prospect News home > News index > List of issuers T > Headlines for Telecom Italia SpA > News item
Published on 12/11/2008 in the Prospect News Convertibles Daily and Prospect News Investment Grade Daily.

Fitch lowers Telecom Italia

Fitch Ratings said it downgraded Telecom Italia SpA's long-term issuer default and senior unsecured ratings to BBB from BBB+ following its announcement about industrial targets for 2009 to 2011.

Senior unsecured ratings of Telecom Italia Capital and Telecom Italia Finance SA are downgraded to BBB from BBB+.

The outlook remains stable.

According to the agency, the downgrade reflects public targets that no longer envisage the company deleveraging to 2.5x by 2010.


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