(Alliance News) - Telecom Italia announced Thursday that Fitch has upgraded the group's credit rating to 'BB+' from 'BB', maintaining a Stable outlook.
The rating agency attributed the decision to the progressive strengthening of cash flow generation, bolstered by operational efficiencies, lower financial charges, and the stabilization of capital expenditure and working capital.
Fitch expects this trend to continue over the medium term, driven by the expansion of TIM Enterprise and steady growth in Brazilian operations. These factors are anticipated to support deleveraging and a return to shareholder remuneration.
According to TIM, the upgrade represents 'further confirmation of the move toward investment grade status'.
By Antonio Di Giorgio, Alliance News reporter
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