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04.05.2015 16:54:00
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OTE PLC -- Moody's downgrades OTE to B3; outlook negative
Madrid, May 04, 2015 -- Moody's Investors Service has today downgraded to B3 from Ba3 the corporate family rating (CFR) and to B3-PD from Ba3-PD the probability of default rating (PDR) of Hellenic Telecommunications Organization S.A. (OTE). Concurrently, the rating agency downgraded to (P)B3 from (P)Ba3 the senior unsecured ratings of the global medium-term note programme (GMTN) and to B3 from Ba3 the rating on the global bonds issued by OTE PLC (OTE's fully and unconditionally guaranteed subsidiary). The outlook on all ratings is negative.
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