LONDON -- Standard&Poor's CreditWire 3/1/96 -- Standard&Poor's affirms its triple-`A' long-term and `A-1'-plus commercial paper ratings of Nippon Telegraph&Telephone Corp. (NTT). The rating outlook remains negative. Ratings reflect NTT's dominant position and important role in the Japanese telecommunications market, and strong cash flow and financial profile among major international peers. The final report submitted by the Telecommunications Council subcommittee (advisory body to the Ministry of Posts and Telecommunications) increases the possibility for a break-up of NTT into one long distance and two regional telephone companies. However, a near- term rating action is not anticipated unless the Japanese government gives final approval to the break-up, and until sufficient details of the restructuring become available. Regardless
