The ratings on Germany's largest telecommunications services provider Deutsche Telekom AG (DT) primarily reflect the group's solid business position in several markets, with operations that constitute a diversified base of free cash flow generating businesses. The ratings also reflect the continued uptake of broadband in Germany, the pace of which is slowing, but where DT achieved an improved 49% market share of net additions in the third quarter of 2008 (344,000 retail customers). This market share of net additions will help mitigate traditional line losses (574,000 net losses in the third quarter of 2008) and assist the group to retain its overall retail broadband market share of 46%, which has proved relatively stable over the past five quarters. Growth in
