LONDON (Standard&Poor's) Feb. 10, 2005--Standard&Poor's Ratings Services said today that, following publication of France Telecom S.A.'s (FT) 2004 results, it has raised its long-term corporate credit rating on France's dominant telecommunications services provider to 'A-' from 'BBB+'. At the same time, FT's short-term corporate credit rating was affirmed at 'A-2'. The outlook remains positive. "The upgrade to the lower end of the 'A' category reflects FT's continued deleveraging in 2004--in line with management's previous guidance--on the back of strong operating performance and a conservative financial policy," said Standard&Poor's credit analyst Leandro de Torres Zabala. "Additional upside cannot be ruled out in the medium term, provided FT not only maintains solid domestic market positions and
