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Debt and rating

The Group maintain the objective of a ratio net debt to Telecom EBITDAaL around 2x in the medium term in order to preserve Orange's financial strength and investment capacity.

Information on debt

 

Net Debt / EBITDAaL ratio
In line with the medium-term objective of around 2x
 

Net Debt (telecom activities) - 31 December 2023: €27.0bn

Liquidity position (telecom activities)
as of 31 December 2023:

€ 14.3 bn
o/w €8.2bn in cash

Liquidity position (telecom activities) - 31 December 2023: €14.3bn o/w €8.2bn in cash

Orange's debt ratings

Orange's debt ratings
Indicator Standard & Poor's Moody's Fitch Ratings
Long-term period debt BBB+ Baa1 BBB+
Outlook Stable Positive Stable
Short-term period debt A2 P2 F2

 

 

Green, Social, Sustainability Bonds

Information regarding Orange’s green, social and sustainability financings (Frameworks, Second Party Opinion, reportings) is available in the Investors’ Library”.

EMTN programme

On 8 June 2023, Orange renewed its €40 billion Euro Medium Term Note programme.
The Programme’s Base Prospectus and all related documentation are available in the Investors' Library.

Orange’s debt securities bought back

More information regarding Orange’s debt securities bought back during each half is available in our Investors' Library.

 

Find all the information available for investors and analysts.

Investors' Library

Find all our latest financial information as well as our document library for investors and analysts.