SANTANDER, 5 Sep. (EUROPA PRESS) -
The CEO of Telefónica, Julio Linares, said on Monday in the framework of the XXV meeting of telecommunications of the UIMP that the multinational is "absolutely convinced" of the fulfillment of the objectives and all the financial commitments.
Linares also said that the planned investments will be fulfilled in accordance with the 'guidance' provided by Telefónica in order to use the availability of this investment to continue developing infrastructures, especially in new technologies, such as fixed and mobile broadband and business transformation.
When asked what consideration the rating reduction by the Credit Rating Agency Standard & Poor's deserves, Linares stressed that the operator does not see "any risk" in the fulfillment of the commitments.
Last August, S&P downgraded Telefónica's rating from 'A-' to 'BBB+', with a 'stable' outlook, after revising downwards the growth forecasts for the company as a result of the challenges it faces in the Spanish market.
In a statement, the agency also stressed that, taking into account what it considers an aggressive dividend distribution policy, Telefónica's debt reduction will be lower than it foresaw until now.
As for the US market, where there is a consolidation of the sector with the union of large operators, Linares indicated that the Spanish group is "very comfortable" with its current presence in the country and said that the company's objectives are to strengthen its position in the markets in which they are present.
FG_AUTHORS: PortalTIC.es / Companies
