S&P upgrades Telekom Austria

S&P said its issuer rating on Telekom Austria AG to A- from BBB+.

“Following Telekom Austria AG's solid results over the first nine months of 2022, including the resilience of its EBITDA margin despite macroeconomic headwinds, we have upwardly revised our expectations for its performance in 2023 and 2024, leading us to forecast annual free operating cash flow (FOCF) generation of about €500 million-€600 million,” the agency said in a press release.

The outlook is stable.

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