France Telecom’s Debt Rating Cut for First Time in Decade
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France Telecom SA’s debt rating was cut for the first time in a decade by a rating company on concern that the country’s former phone monopoly will struggle to raise prices and boost profitability amid competition at home from discounter Iliad SA.
Fitch Ratings today lowered France Telecom’s rating by one level to BBB+, the third-lowest investment grade. Standard & Poor’s and Moody’s Investors Service rate the company one notch higher at the fourth-lowest investment grade.