NEW YORK-Moody’s Investor Services assigned a speculative grade liquidity rating of SGL-1 to Nextel Communications Inc., pointing out that while Nextel’s cash provided by operations are not currently covering its capital expenditures the carrier does have $2.5 billion in cash on hand.
Moody’s also noted that Nextel has significant covenant room under its $6 billion secured credit facility that should allow continued access to the undrawn $1.5 billion revolving portion of that facility.
