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Moody’s downgrades NTT Docomo
Moody’s Investors Service said it downgraded NTT Docomo, Inc. to A1 from Aa3.
The outlook is stable.
The downgrade brings its rating in line with its parent, Nippon Telegraph & Telephone Corp., following NTT taking Docomo private in a ¥4.25 trillion debt-funded deal, Moody’s said.
“Now with full ownership, NTT will have full control of Docomo’s cash flow, including the ¥130 billion in dividends that used to be paid to Docomo’s public shareholders, and the two entities’ financial policy will be one and the same,” said Mariko Semetko, a Moody’s vice president and senior credit officer, in a press release.
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