TOKYO (Standard&Poor's) Nov. 30, 2001--Standard&Poor's today lowered its long-term ratings on Nippon Telegraph&Telephone Corp. (NTT) and NTT DoCoMo Inc. to double-'A'-minus, and removed the ratings from CreditWatch, where they were placed on Nov. 27, 2001. The outlooks on the long-term ratings are stable. At the same time, Standard&Poor's affirmed its 'A-1'-plus short-term ratings on the companies, which were not placed on CreditWatch. The downgrades reflect the added financial pressure on the NTT group resulting from labor restructuring measures, and the challenges of restoring profitability at its traditional fixed-line businesses amid a difficult business environment. Cushioning the group against these challenges is its solid cash flow in relation to its debt burden and
