(Editor's note: Correction of the U.S. dollar conversion given in the second paragraph of this release.) LONDON (Standard&Poor's CreditWire) Feb. 16, 2001--Following completion of the IPO for the European cellular telecommunications operator Orange PLC, Standard&Poor's today lowered its long-term corporate credit and senior unsecured debt ratings on telecoms operator France Télécom and related entity Orange to single-'A'-minus from single-'A'. At the same time, short-term corporate credit and commercial paper ratings on France Télécom were lowered to 'A-2' from 'A-1'. The outlook remains negative. The gross proceeds of the Orange share offer receivable for France Télécom are €6.3 billion ($5.72 billion; up to maximum €7.2 billion if the over-allotment option is fully used). In addition, France Télécom
