Fitch upgrades Royal KPN

Fitch Ratings said it upgraded Royal KPN NV’s long-term issuer default rating and senior unsecured rating to BBB from BBB-.

The outlook is stable.

The upgrades reflect a view that Royal KPN is on a more sustainable competitive track within its domestic consumer market, Fitch said.

The position may strengthen over time on the back of bundled product offerings, network investments and a more rational fixed-line market environment, the agency said.

Weakness in the company’s business segment may continue over the next two- to three-years, but the declines are likely to have a diminishing impact after 2016 at the group level, Fitch said.

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