Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Nippon Telegraph and Telephone Corporation
Global Credit Research - 04 Dec 2020
Tokyo, December 04, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Nippon Telegraph and Telephone Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.
This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.
Key rating considerations are summarized below.
Nippon Telegraph and Telephone Corporation's (NTT) A1 long-term rating is strengthened by the company's (1) leading position in Japan's telecommunications sector; (2) advanced technological abilities; and (3) ability to consistently generate positive free cash flow (FCF).