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Hellenic Telecommunications Organization S.A. -- Moody's upgrades OTE to Ba2 from B1; stable outlook

Moody's Investors Service (Moody's) has upgraded to Ba2 from B1 the corporate family rating (CFR) and to Ba2-PD from B1-PD the probability of default rating (PDR) of Greece's leading telecommunications provider Hellenic Telecommunications Organization S.A. (OTE). Concurrently, Moody's upgraded to (P)Ba2 from (P)B1 the senior unsecured medium-term note program (MTN) and to Ba2 from B1 the senior unsecured global bonds issued by OTE PLC (OTE's fully and unconditionally guaranteed subsidiary).