NTT faces slower subscription growth in its core mobile communications and FTTH fixed-line communications businesses amid intensifying competition. As a result, NTT's business risk profile remains under pressure due to declines in market shares and profitability. We have revised our outlook on the long-term corporate credit ratings on NTT and NTT DOCOMO to negative from stable and affirmed all our long- and short-term corporate ratings on the companies. We would likely lower our ratings if intensifying competition in NTT's core businesses were likely to erode its market position or profitability, in our view. TOKYO (Standard&Poor's) Jan. 28, 2013--Standard&Poor's Ratings Services today revised its outlook on the long-term corporate credit ratings on Nippon Telegraph&Telephone Corp.
