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Posted AT 10:59 AM EST on 26/08/08

Moody's cuts outlook on wireless

SIMON AVERY

Globe and Mail Update

Moody's Investors Service lowered its financial outlook for Canada's wireless industry on Tuesday, saying emerging competition will start to squeeze profitability at the big three cell phone companies. The debt-rating agency changed its outlook on the wireless telecommunications sector from positive to stable, giving Canada the same rating as the U.S. industry.

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