Madrid, June 18, 2014 -- Moody's Investors Service has today upgraded to Baa3 from Ba2 the long term senior unsecured bond ratings, to (P)Baa3 from (P)Ba2 the rating on the EMTN program of Portugal Telecom SGPS, S.A. (Portugal Telecom) and its financing subsidiary Portugal Telecom International Finance B.V. (PTIF). The outlook is negative.
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