Italy, May 14 -- TIM announces that Fitch has upgraded the Group's credit rating to BB+ from BB, with a stable outlook.Fitch bases the upgrade to the gradual strengthening of cash generation - driven by operational efficiencies, lower financial costs and the stabilisation of capital expenditure and working capital - and expects this trend to continue over the medium term, thanks to the expansion of TIM Enterprise and steady growth in Brazil, underpinning a decline in financial leverage and the expected return to shareholder remuneration.Today's upgrade is a further confirmation that TIM is moving closer to investment-grade status.
Published by HT Digital Content Services with permission from Pivotal Sources....