Friday, 24 March, 2023

Moody's lowers Telecom Italia's credit rating to 'B1'

<p>The credit rating of Telecom Italia was lowered by one notch to &quot;B1&quot; by Moody&#39;s. &nbsp;It highlighted predictions that over the following 2-3 three years, free cash flow will continue to be negative and leverage will remain high. Shares of Telecom Italia dropped over 6% and reached a record low as the collapse of the Italian government is likely to thwart efforts to build a single network. For the business and its entities, Moody&#39;s has maintained a &quot;negative&quot; outlook.</p>