BUSINESS

S&P upgrades OTE’s credit rating and revises outlook

Standard & Poor’s on Tuesday upgraded OTE telecom’s credit rating from BB- to BB and revised its outlook from negative to stable, arguing that even in the unlikely event of a Greek default, OTE will service its debts.

Meanwhile OTE Chairman and Chief Executive Michalis Tsamaz has made the GTB Power100 list of the world’s top personalities in the telecommunications industry for the second year in a row, ranking 63rd from 84th last year.

The list is compiled by British industry journal Global Telecom Business and Tsamaz is the only Greek in it.

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