TOKYO (Standard&Poor's) May 21, 2007-- Standard&Poor's Ratings Services today raised its long-term corporate credit ratings on Nippon Telegraph&Telephone Corp. (NTT) and NTT DoCoMo Inc., and its counterparty credit rating on NTT Finance Corp. to 'AA' from 'AA-'. At the same time, Standard&Poor's affirmed its 'A-1+' short-term ratings on the three companies. The outlook on the long-tem corporate credit rating for each company is stable. The rating action reflects the NTT group's steady improvement in its financial profile through consistent debt reduction despite challenging operating conditions such as declining demand in fixed-line communication and increased competition in mobile phone services to attract new subscribers. The rating action also reflects the groups strong cash
