Fitch rates Hellas Telecommunications notes CCC+

Fitch Ratings said it assigned Hellas Telecommunications II Luxembourg's subordinated floating-rate notes due 2015 final ratings of CCC+ with a recovery rating of 6 following the receipt of final documents. Other debt issue ratings of Hellas affiliates are affirmed, including Hellas Telecommunications V Luxembourg's senior credit facility at B+ with a recovery rating of 3; Hellas Telecommunications Luxembourg V's senior secured floating-rate notes due 2012 at B+ with recovery rating of 3; and Hellas Telecommunications Luxembourg III's senior unsecured notes due 2013 at B with recovery rating of 4.

The company is the third largest mobile operator in Greece with 3.7 million customers in the third quarter of 2006.

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