Fitch ups France Telecom to F1

Fitch Ratings said it upgraded France Telecom SA's short-term rating to F1 from F2 and affirmed its senior unsecured rating at A- with stable outlook.

Fitch said the upgrade reflects improvements in France Telecom's liquidity position, which should considerably aid the group's debt reduction efforts, particularly in short-term commitments.

From 2005 on, Fitch said it expects France Telecom to be in a position to cover its debt maturities from free cash flow post dividends.

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