18 Aug 2011 16:45
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 August 11th, 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 A- outlook negative to BBB+ outlook stable. At the same time, S&P´s short-term credit rating remained at A-2.
Madrid, August 18th, 2011.