Tue, 8th Nov 2016 07:00
RAMIRO SÁNCHEZ DE LERÍN GARCÍA-OVIES
General Secretary and
Secretary to the Board of Directors
TELEFÓNICA, S.A. as provided in article 228 of the Spanish Securities Act (Ley del Mercado de Valores), hereby reports the following
Today, Monday November 7, 2016 the credit rating agency Moody´s Investors Service (Moody's) has published its decision to lower the long-term credit rating of Telefónica, S.A. from Baa2 to Baa3. At the same time, Moody´s has lowered the short-term ratings to Prime-3 from Prime-2. The outlook on the ratings is stable.
Madrid, November 7, 2016.