(Editor's note: In the media release published earlier today, the €500 million reduction referred to in the third paragraph and resulting from the launch of the rights issue early in 2003 was misstated. A corrected version follows.) MILAN (Standard&Poor's) March 24, 2003--Standard&Poor's Ratings Services said today that it has placed its 'BBB-' long-term and 'A-3' short-term corporate credit ratings on French telecommunications provider France Telecom S.A. (FT) on CreditWatch with positive implications, following news earlier in the day that the group has launched a fully underwritten €15 billion rights issue. The 'BBB-' long-term corporate credit rating on FT's mobile telephone subsidiary Orange S.A. was also placed on CreditWatch with positive implications. "The rights issue--which is fully
