LONDON (Standard&Poor's) Jan. 29, 2007--Standard&Poor's Ratings Services said today that its ratings and outlook on Germany's largest telecommunications services provider Deutsche Telekom AG (DT; A-/Negative/A-2) were unaffected by DT's revision of its EBITDA expectations for 2007. The group has announced revised expectations of adjusted EBITDA of €19.0 billion and free cash flow similar to that of 2006 or at least €5.5 billion (prior to spectrum capital expenditures in the U.S.). Although the revised EBITDA guidance for 2007 indicates a tougher operating environment for DT, cumulative free cash flow for 2006 and 2007 (prior to spectrum capital expenditures in the U.S.) should remain broadly unchanged. At the same time, the guidance revision indicates that, to avoid ratings
