Telecommunications: Ratings Navigator Companion

...Sector and Sub-Sectors: This report presents the key peer comparator elements observed or expected for companies in the global telecommunications sector. Sub-sectors include incumbent operators and alternative network operators. Both of these types of companies operate fixed, mobile and cable TV networks to provide telecommunications and TV services to consumers and corporate customers. Network infrastructure can either be owned or leased. Key Factors: The Sector Risk Profile defines and groups companies operating in the sector into a "natural rating territory" based on Fitch's view of the inherent risk profile of the industry. Each company's overall risk profile generally does not stray too far from this rating range. After assessing the Operating Environment, then Management and Corporate Governance, the Navigator examines four Sector-Specific factors for given rating levels. Finally, three Financial Profile factors help capture financial attributes commensurate with particular rating...

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