Moody’s: Telecom Italia view to stable

Moody's Investors Service said it changed the outlook on Telecom Italia SpA's Ba1 corporate family rating, the ratings of all debts issued (or guaranteed) by the company, and all supported debts within its family of issuers, including the Ba1 senior unsecured ratings and provisional Ba1 medium-term note program ratings, to stable from negative.

Concurrently, the agency affirmed all these ratings, as well as the Ba1-PD probability of default rating.

"The stabilisation of the outlook on Telecom Italia's ratings reflects our expectations that the company's management team will continue to build on recent financial and operating performance improvements to strengthen cash flows and boost creditworthiness into 2018," Carlos Winzer, Moody's senior vice president and lead analyst for Telecom Italia, said in a news release.

"That said, the company's high cash needs and rising competition could slow the speed with which it reduces leverage."

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