BRIEF-Fitch Upgrades Telecom Italia To 'BB+', Affirms Stable Outlook

May 14 (Reuters) - Telecom Italia SpA TLIT.MI:

  • FITCH UPGRADES TELECOM ITALIA TO 'BB+'; STABLE OUTLOOK

  • FITCH: UPGRADE REFLECTS STRONGER CASH FLOW GENERATION, STABILISING LEVERAGE AFTER DISPOSAL OF TIM'S FIXED LOCAL ACCESS NETWORK & OTHER NON-CORE ASSETS

  • FITCH ON TELECOM ITALIA: STABLE OUTLOOK REFLECTS EXPECTATIONS THAT CASH FLOW & LEVERAGE WILL REMAIN WITHIN OUR 'BB+' RATING SENSITIVITIES

  • FITCH ON TELECOM ITALIA: EXPECT SHARE BUYBACK OF ABOUT EUR370 MILLION IN 2026, FUNDED BY ASSET SALE PROCEEDS

  • FITCH: EXPECTS TIM'S ORDINARY DIVIDENDS TO RISE TO ABOUT EUR600 MLN ANNUALLY BY 2029, MINORITY DISTRIBUTIONS INCREASING TO ABOUT EUR300 MLN

Source text: ID:nFIT2gJw4h

Further company coverage: TLIT.MI


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