Summary: Telekom Austria AG Jan 12

Standard & Poors, January 2012

Abstract
The ratings on Telekom Austria AG reflect Standard & Poor's Ratings Services' view of the group's "satisfactory" business risk profile and its "intermediate" financial risk profile. Telekom Austria's business risk profile is supported, in our view, by its sustainable leading market positions in the Republic of Austria (AA+/Negative/A-1+). Furthermore, the group's international mobile operations help diversify its revenue base and generate meaningful profit margins. These factors are tempered by the saturation of, and fierce competition in, Austria's declining telecommunications services market, in our opinion. We also consider that the group's international mobile operations continue to face meaningful competitive and regulatory pressure and significant country risks, notably in Belarus. We also note that Telekom Austria has a rigid cost structure because...

Companies mentioned in this report are: Telekom Austria AG
Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Telekom Austria AG

Customers who bought this item also bought

• Defense Expenditure in Austria to 2015 - Market Sizing and Forecasts: Market Profile
• The Austrian Defense Industry - Procurement Market Dynamics to 2017: Market Profile
• The Austrian Defense Industry - Market Entry Strategy to 2017: Market Profile
• The European University Libraries Directory 2013
• The Austrian Defense Industry - Industry Dynamics to 2017: Market Profile
• Defense Expenditure in Austria to 2015 - Import and Export Dynamics: Market Profile
• The Austrian Defense Industry - Market Attractiveness and Emerging Opportunities to 2017: Market Profile
• The Austrian Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017
• The Austrian Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
• Homeland Security Expenditure in Austria to 2017: Market Review