Firms in the debt-laden telecoms sector, which have been hit by a rash of ratings downgrades this year, will nevertheless hang on to their investment grade status in 2002, according to Moody's, the rating agency.
Carlos Winzer, a senior vice-president in the corporate finance department at Moody's, said in the European Telecoms Industry Outlook report: "European investment-grade telecoms service providers should be able to maintain their investment-grade ratings, even though many face not only higher than expected financial risk but for longer than originally anticipated."
