Moody's Downgrades Debt Ratings Of Portugal Telecom

Moody's Investors Service downgraded the debt ratings of Portugal Telecom SGPS SA PT from “Baa2” to “Baa3.” Moody's reported that they remain on review for possible further downgrade. Last week, Standard & Poor's also downgraded Portugal Telecom's rating from “BBB/A-2” to “BBB-/A-3,” with a negative outlook. PT shares fell 0.81% to close at $10.97 yesterday. Read more from Benzinga's Markets.