25 May 2012 16:56
TELEFÓNICA, S.A. as provided in article 82 of the Spanish Securities Act (Ley del Mercado de Valores), hereby reports the following
SIGNIFICANT EVENT
On Thursday May 24th, the credit rating agency Standard & Poor´s Rating Services (S&P's) published its decision to lower the long-term credit rating of Telefónica, S.A. from BBB+ outlook negative to BBB outlook negative. At the same time, the rating agency's short-term credit rating remained at A-2.
Madrid, May 25th, 2012.