Moody's Maintains Orange's Rating Amid MasOrange Acquisition

12:02 AM EST, 12/18/2025 (MT Newswires) -- Moody's Ratings on Wednesday affirmed Orange's (ORA.PA) Baa1 long-term issuer rating, with a stable outlook, following the French telecommunications group's 4.25 billion-euro agreement to acquire the remaining 50% stake in Spanish peer MasOrange. The rating agency said the acquisition is expected to strengthen Orange's scale and diversification, with Spain becoming the company's second-largest market. The deal is also expected to improve margins and support cash flow, driven by MasOrange's steady operating performance, lower capital expenditure, and the potential to refinance existing debt at reduced costs.