NEW YORK-After a tumultuous few weeks for Sprint Corp., Standard & Poor’s affirmed its ratings for the company-BBB+/Negative/A-2.
Last month, Sprint announced it plans to rely more heavily on its wireline and wireless division to offset sluggish sales in its long-distance sector. In addition, Sprint said it would fund its increased capital requirements with a mix of debt and equity.
Standard & Poor’s said in a release that if Sprint doesn’t issue the expected $3 billion of new equity next year, its rating will likely be downgraded.
