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Moody's Investors Service Downgrades Its Ratings On Telefonica SA- Reuters
Reuters reported that Moody's Investors Service has downgraded its long-term senior unsecured ratings and issuer ratings on Telefonica SA to Baa2 from Baa1. Concurrently, Moody's Investors Service has also downgraded the ratings of all Telefonica's guaranteed subsidiaries, including the subordinated preferred stock ratings, to Ba1 from Baa3. All ratings, including the short-term Prime-2 rating, remain on review for further downgrade.
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