Fitch affirms France Telecom

Fitch Ratings said it affirmed France Telecom's long-term issuer default rating and senior unsecured ratings at A- and Short-term issuer default rating at F1. Its hybrid instruments, the titres a duree indeterminee remboursables en actions, are affirmed at BBB+.

The outlook is stable.

The ratings reflect the group's dominance in its domestic market across all segments, a diversified portfolio of international assets and the strengthening of its capital structure, Fitch said.

The outlook reflects Fitch's expectation that the company's product and geographical mix will offset potential regulatory and competition risks, especially in the more mature markets, the agency said.

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