S&P affirms France Telecom

Standard & Poor's said it affirmed its A-/A-2 long- and short-term corporate credit ratings on France Telecom SA, following its review of the group's 2006 results, strategy and prospects for 2007.

The outlook is stable.

S&P noted that the ratings reflect France Telecom's resilient operating performance and trading prospects, its underlying solid organic free cash flow generation and, importantly, its disciplined financial policy.

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