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NEW YORK-Standard & Poor’s Ratings Services assigned its preliminary ‘A-‘ rating to U.S. Cellular Corp.’s $500 million unsecured debt shelf registration, which the carrier said it would use for general corporate purposes, including the repayment of long-term debt.
S&P also affirmed its ‘A-‘ corporate credit ratings on U.S. Cellular and its majority owner Telephone & Data Systems Inc., but maintained its negative outlook, citing a significant portion of any debt issuance under the shelf registration would be used for debt refinancing.
