Moody's ups France Telecom debt to Baa1

Moody's Investors Service said it upgraded to Baa1 the long-term debt ratings of France Telecom SA. The company's prime-2 short-term rating was not affected by the review and has been affirmed. The outlook is stable.

The rating upgrade affects France Telecom's convertible global bonds, dollar bonds, euro MTNs, eurobonds, floating-rate euro MTNs, floating rate French franc bonds, French bonds, Swiss franc bonds, its issuer rating and bank loan rating.

The rating upgrade reflects Moody's expectation that France Telecom will continue to strengthen its debt protection measures in the future, as well as to continue successfully executing on its strategic operating plan.

Despite the increasingly competitive environment, tighter regulation and various pressures impacting its fixed-line business, Moody's said the company is well positioned to take advantage of growth opportunities in mobile and fixed broadband.

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