The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.
Carrier
–Standard & Poor’s Ratings Services raised its rating on Telephone & Data Systems to BBB- from BB+. The outlook is positive. The change comes after the company addressed material weaknesses previously cited in its financial documents related to staffing and accounting for plant, property and equipment. S&P noted the firm could be upgraded even further, to BBB, assuming continued favorable operating trends and conservative balance sheet. TDS owns most of U.S. Cellular.
Handset and infrastructure vendors
–Oppenheimer upgraded Nokia to outperform from perform and set a $40 price target on the company. The firm noted its checks reveal demand remains strong despite recent stock pressure the company has experienced due to worries about weakening demand.
Other
–Standard & Poor’s Ratings Services lowered its corporate credit rating on Comverse Technology Inc. to B+ from BB- and removed the company from CreditWatch. The outlook is negative. Comverse was placed on CreditWatch two years ago over concerns related to stock options grants.
Financial ratings wrap-up: Comverse, Nokia and TDS
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