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General

Moody's downgrades Telecom Italia outlook to negative, affirms rating

Thursday 11 July 2019 | 09:50 CET | News
Ratings agency Moody's has downgraded Telecom Italia's outlook from stable to negative while affirming its 'BA1' rating. In a statement, Moody's said the change in outlook to negative reflected its expectation that the operator will continue to operate in a very competitive environment and with sustained high leverage in spite of a strong commitment to reduce debt. Moody's predicted that the company's net debt/EBITDA will remain close to 4.0x in 2019 and above 3.5x in 2020, adding that debt-reduction measures may not be enough to bring leverage below the 3.5x threshold for the rating category

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Categories: General
Companies: Telecom Italia / TIM / TIM Brasil
Countries: Italy
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