Moody’s downgrades Telstra

18 May 2005

Telstra’s credit outlook has been downgraded from ‘stable’ to ‘negative’ by Moody’s Investors Services, because of increased risks associated with its forthcoming privatisation. The government plans to sell its 51.8% stake within the next 18 months, and Moody’s believes that the telco is likely to adopt a more aggressive financial profile as part of the process.

Australia, Telstra (incl. Belong)