Standard&Poor's said today that its ratings on Nippon Telegraph and Telephone Corp. (NTT, AA-/Stable/A-1+/) and its consolidated subsidiary NTT DoCoMo Inc. (AA-/Stable/A-1+) will not be affected by the companies' recently revised earnings forecasts for fiscal 2001 (ended March 31, 2002). The current long-term ratings on both NTT and NTT DoCoMo already reflect the business and financial risks of the NTT group's sizable overseas investments in the past couple of years, as well as added financial pressure on the NTT group from labor restructuring measures. NTT DoCoMo expects net losses of ¥36 billion for fiscal 2001, compared with its previous net income forecast of ¥255 billion. These losses have been caused by extraordinary write-offs of about ¥550 billion in
