Moody's Downgrades Debt Ratings Of Portugal Telecom

By Lisa Levin
Benzinga Staff Writer
June 07, 2011 5:35 AM

Symbols: PT

Posted in: News, Downgrades, Markets

Moody's Investors Service downgraded the debt ratings of Portugal Telecom SGPS SA (NYSE: PT) from “Baa2” to “Baa3.”

Moody's reported that they remain on review for possible further downgrade. Last week, Standard & Poor's also downgraded Portugal Telecom's rating from “BBB/A-2” to “BBB-/A-3,” with a negative outlook.

PT shares fell 0.81% to close at $10.97 yesterday.

Read more from Benzinga's Markets.

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Moody's Downgrades Debt Ratings Of Portugal Telecom

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