November 15, 2013 / 8:20 AM / 4 years ago

Telecom Italia shares flat after downgrade

MILAN, Nov 15 (Reuters) - Shares in Telecom Italia are flat after falling as much as 1.5 percent on Friday in an initial reaction to a credit rating downgrade by Standard & Poor‘s.

The credit rating agency on Thursdasy cut Telecom Italia’s rating to “BB+”, a non-investment grade, from “BBB-” with negative outlook citing a persistently high debt level and a tough business environment in its Italian home market. (Reporting By Lisa Jucca)

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