TOKYO (Standard&Poor's) Nov. 18, 2011--Standard&Poor's Ratings Services today assigned its 'AA' rating to Nippon Telegraph&Telephone Corp.'s (NTT; AA/Stable/A-1+) ¥70 billion domestic bonds due Sept. 17, 2021. The coupon rate is 1.02%. The ratings on NTT reflect the company's extremely strong position in Japan's fixed-line, mobile telecommunications, and broadband markets; the strong earnings and profitability of its mobile business, which has almost 50% of the market; the significant advantages NTT has in broadband services compared with its peers, especially in its fiber-to-the-home (FTTH) business; and its strong financial profile, characterized by strong cash flow. Factors constraining the ratings are continued losses in its FTTH business in fiscal 2010 (ended March 31, 2011); the risk of
