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Telecom Welcomes ‘Stable’ Rating From Moody’s

Telecom Welcomes ‘Stable’ Rating From Moody’s

Moody’s Investors Service’s A2 ‘stable’ credit rating for Telecom is an endorsement of the excellent financial position the Group is in, Telecom said today.

“The rating improvement from A2 ‘negative’ to A2 ‘stable’ reflects Telecom ’s strengthened financial profile, achieved by using strong cash flow generation to substantially reduce debt in the past year,” said Chief Financial Officer Marko Bogoievski.

On 5 August 2003, rating agency Standard and Poor’s also confirmed Telecom ’s credit rating as A ‘stable’.

“I’m pleased that both these rating agencies have now endorsed Telecom’s strategy of reducing debt and improving financial flexibility,” said Mr Bogoievski.

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