Belgacom’s bluest of blue chip triple-A credit rating on its long-term local currency debt is under threat from Standard & Poor’s Corp, which has put the Belgian state phone company’s debt on CrediWatch and says the action reflects increased uncertainty about its prospects in the wake of government revelations of planned changes among top management. This announcement has come at a moment when the company particularly requires decisive andconsistent leadership, Standard & Poor’s says, adding that it faces key strategic decisions amid rapid structural changes now occurring in European telecommunications sectors. Details of the intended privatisation of up to 49% of Belgacom’s equity capital are to be published in months, it noted.
