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Internet/Data | Government/Regulations | Equipment/Infrastructure | Long Distance TelephonyChile's telecoms regulator Subtel has completed testing of SMS interconnection systems and will now draft a resolution obligating mobile operators to exchange text messages between each other's networks, the regulator said in a statement. In other news, Subtel has begun an inspection drive to ensure that telcos are carrying out repairs in a timely manner. The statement comes as Telefonica CTC Chile (NYSE: CTC) closes the 14th day of a major strike, and faces a growing backlog of service complaints.
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US-based IT products vendor Hewlett-Packard (NYSE: HWP) (HP) has awarded corporate communications provider AT&T Latin America (Nasdaq: ATTL) a contract to provide international data services connecting HP's Chile offices with offices in the US, ATTL said in a statement. The operator already provides similar services for HP in Peru and Brazil. In Chile, AT&T Latin America has more than 19,000km of installed optical fiber, more than 900 connected buildings and approximately 1,500 Internet and data customers.
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International rating agency Fitch Ratings has placed its BBB+ rating for Telefonica del Peru's (NYSE: TDP) international net-settlement securitization (TDP Grantor Trust) on Rating Watch Negative, because of exposure to WorldCom. Fitch downgraded WorldCom's senior unsecured ratings to 'CC' from 'B' on June 26, 2002. WorldCom contributes approximately 25% of the securitization's cash flows. As of June 30, 2002, WorldCom has had no delinquent payment on net settlement obligations to TDP. However, the potential for an interruption of payments by WorldCom to TDP Grantor Trust creates uncertainty for the transaction, Fitch said.
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