BRIEF-Moody's Ratings Upgrades Telecom Italia's Ratings To Ba3; Outlook Positive

BY Reuters | CORPORATE | 06/12/24 01:25 PM EDT

June 12 (Reuters) - Moody's Ratings:

* MOODY'S RATINGS UPGRADES TELECOM ITALIA'S RATINGS TO BA3; OUTLOOK POSITIVE

* MOODY'S-POSITIVE OUTLOOK REFLECTS RECENT SOLID OPERATING PERFORMANCE & EXPECTATION THAT TELECOM ITALIA'S CREDIT METRICS WILL IMPROVE OVER NEXT 2 YEARS

* MOODY'S: TELECOM ITALIA'S RATING UPGRADE SHOWS CORPORATE GOVERNANCE CONSIDERATIONS RELATED TO DECISION TO PURSUE MORE CONSERVATIVE FINANCIAL POLICY

* MOODY'S: RATING UPGRADE REFLECTS EXPECTED IMPROVEMENT IN TELECOM ITALIA'S FINANCIAL PROFILE, WHICH WILL MORE THAN OFFSET WEAKER BUSINESS PROFILE Source text for Eikon: Further company coverage:

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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