Recently, S&P downgraded the credit rating of Telstra senior bonds from A to A-. S&P said Telstra's strong position within the Australian telecommunications industry had been “diminished somewhat” as competition intensified across its core businesses, which meant Telstra had to choose between lower margins or a reduced market share. Obviously, this had some effect on Telstra’s bond prices, even though one bank said an A- rating is “still quite good”...