Fitch cuts WIND Hellas to B-

Fitch Ratings said it downgraded WIND Hellas Telecommunications SA's long-term issuer default rating to B- from B on concerns about its leverage and future cash flow generation. The short-term rating is affirmed at B.

The outlook is stable.

The downgrade is due to an expected increase in leverage and deterioration in liquidity due to ongoing investments in its fixed-line business, Tellas, Fitch said.

The rating also reflects the slowdown in the Greek mobile market, competitive pressure and the effects of the anticipated reduction in termination rates, the agency said.

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