Telecom drops Fitch from ratings coverage
BUSINESSDESK: Telecom, the largest company on the NXZ 50, has dropped Fitch Ratings from its ratings line-up.
The telecommunications company will continue to engage with ratings agencies Standard & Poor's and Moody's Investors Service for ratings and analytical coverage, it said.
"It is what it is – we have two rating agencies and that is sufficient coverage," a Telecom spokesperson told BusinessDesk.
Standard & Poor's long term rating for Telecom is A-/stable, while Moody's is A3 stable.
In October, Fitch downgraded Telecom's long-term credit rating from A- to BBB+/Stable.
Shares in the company fell 0.4% to $2.39 and have gained 17% this year.