TOKYO (Standard&Poor's) March 29, 2016--Standard&Poor's Ratings Services today said that its ratings on Japan-based communications operator Nippon Telegraph&Telephone Corp. (NTT; AA-/Stable/A-1+) are unaffected by Japan-based data communications subsidiary NTT DATA Corp.'s announcement Monday that it will acquire U.S.-based computer systems company Dell Inc.'s IT services business. NTT holds a 54.19% stake in NTT DATA. The acquisition price is US$3.055 billion (about ¥350 billion) and the means of financing are undisclosed. Nevertheless, we believe the deal will not affect our ratings on NTT, because the company has a large amount of cash and cash deposits on a consolidated basis and a solid ability to generate cash flows. In our base-case scenario, we expect NTT to
