Paris (Standard & Poor's CreditWire) Feb. 5, 2001--Following Telecom Italia's announcement that it will offer to convert all outstanding savings shares into ordinary shares, coupled with an ordinary share buyback transaction, Standard & Poor's today affirmed its triple-'B' long-term ratings on Tecnost International (Finance) N.V.--Telecom Italia's majority shareholder--and Tecnost International N.V. At the same time, Standard & Poor's assigned its triple-'B' long-term corporate credit rating to Olivetti SpA--the holding company of Telecom Italia--and its triple-'B' senior unsecured debt rating to associated entity Olivetti International N.V. The outlook on both Tecnost International (Finance) N.V. and Olivetti SpA is stable. (See list below for all ratings affected.) In addition, Standard & Poor's has made an assessment of the credit quality of Telecom...
Companies mentioned in this report are: Olivetti International (Finance) N.V.,Olivetti SpA
Action: Various Rating Actions
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Research type: News
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