HTO

S&P has upgraded OTE’s long-term rating to ‘BB+’ from ‘BB’, maintaining its positive outlook that reflects the possibility of a one-notch upgrade over the next 12 months in the event of a sovereign upgrade. As OTE generates more than 70% of its revenues and more than 80% of its EBITDA in Greece, the rating upgrade reflects S&P’s upward revision of Greece's country risk on improving economic prospects and policy predictability.

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