Deutsche Telekom could celebrate a return to single-A status in the coming months following a welcome boost from Fitch Ratings, the international rating agency.

Fitch Ratings has raised its outlook from stable to positive on Deutsche Telecom's BBB+ long-term credit rating. A subsequent upgrade would leave the German telecoms company with a low single-A rating that would reduce the cost of managing its existing debt and of issuing fresh bonds. It has battled for the past two years to cut the debt burden that pushed its credit rating down to the cusp of sub-investment grade.