Ratings firm questions Sprint’s long-term solvency
Sprint’s stock took a hit Wednesday following a move by Moody’s Investors Service in downgrading several of the wireless carrier’s operating entities.
In a research note, Moody’s downgraded Sprint’s corporate family rating from “B1” to “B3,” its probability of default...
NEW YORK-Credit ratings firm Standard & Poor's is turning a sharp eye on wireline companies and their wireless offspring, citing concerns about wireline businesses' ability to compete with Voice over Internet Protocol providers, particularly cable companies. Verizon Communications Inc. and its related companies, including...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.
Following is a list of wireless companies that were cited in financial reports from investment banking and financial services firms this week.Pacific Growth Equities upgraded its rating on RF Micro Devices from equal weight to overweight on expectations of higher revenues generated by new...
Following are ratings changes and financial information on wireless companies from financial services and investment banking firms announced this week. Nortel, AAT, UTStarcom, Alvarion, Intrado and others mentioned.Standard & Poor's Ratings Services raised its corporate credit rating on tower company AAT Communications Corp. to...
KIRKLAND, Wash.-Nextel Partners Inc., via its wholly owned subsidiary Nextel Partners Operating Corp., said it expects to save $14 million in annual interest expenses due to a new $550 million tranche D term loan it is using to replace an existing $700 million tranche...
KIRKLAND, Wash.-Nextel Partners Inc., via its wholly owned subsidiary Nextel Partners Operating Corp., said it expects to save $14 million in annualized interest expenses due to a new $550 million tranche D term loan it is using to replace an existing $700 million tranche...
Following is a roundup of wireless companies that received ratings changes from financial services companies this week.JP Morgan lowered its rating on SpectraLink from neutral to underweight. The firm cited weak first-quarter results and second-quarter guidance along with three other factors for the downgrade....
WASHINGTON-John Bohn has been sworn in as the newest member of the California Public Utilities Commission, likely giving GOP Gov. Arnold Schwarzenegger the majority he needs to revamp or repeal the controversial bill of rights for telecom consumers.Bohn, who was appointed after high-tech entrepreneur...
Following is a roundup of ratings changes for companies in the wireless market during the week of Feb. 28.JP Morgan upgraded its rating on Texas Instruments from Underweight to Neutral on expectations of a mild upturn in the semiconductor industry beginning this year and...
WASHINGTON-The fanfare surrounding last week's government approval of Cingular Wireless L.L.C.'s $41 billion acquisition of AT&T Wireless Services Inc. proved to be short-lived, with Moody's Investors Service reacting immediately by downgrading long-term debt ratings of the new No. 1 U.S. mobile-phone carrier and its...
The union of Cingular Wireless L.L.C. and AT&T Wireless Services Inc. gives new meaning to The Great Experiment.Indeed, nothing approaching it-in scale, complexity and consequence-has ever been attempted in the spectacular 21-year-young history of the cellular industry. Cingular, 60-percent owned by SBC Communications Inc....
WASHINGTON-The fanfare surrounding final government approval of Cingular Wireless L.L.C.'s $41 billion acquisition of AT&T Wireless Services Inc. proved to be short-lived, with Moody's Investors Service downgrading long-term debt ratings of the new No. 1 mobile-phone carrier and its two Bell telephone parent companies....
NEW YORK-Moody's Investor Services assigned a Caa1 rating to AirGate PCS Inc.'s recently issued 9.375 percent senior subordinated secured notes due 2009 and a B2 rating for the carrier's $141 million secured credit facility. Moody's also placed a stable rating outlook for AirGate noting...
Second-quarter results from public tower companies reflect improved financial stability and greater optimism that cell-site additions will ramp up in the coming months. Crown Castle International Corp. released its second-quarter financials late last week. The company reported revenue of $224.2 million, down slightly from...
NEW YORK--Citing "recent corporate governance problems and alleged accounting fraud within the SK Group," Moody's Investors Service has downgraded to stable from positive its outlook on the speculative-grade Baa1 rating of SK Telecom Co. Ltd., the leading wireless telecommunications carrier in South Korea.In conjunction...
NEW YORK-To reflect "the remarkably stable operating and financial performance" of Nextel Communications Inc., Moody's Investors Service has upgraded its outlook to stable from negative on the carrier's $15 billion in outstanding debt.The change also takes into account Nextel's improvements in earnings before interest,...
NEW YORK-Moody's Investor Services downgraded its senior unsecured long-term debt ratings of Verizon Communications Inc. from A1 to A2 and the long-term debt ratings of Verizon Wireless Inc. from A2 to A3, but upgraded its outlook from negative to stable.The ratings agency cited concerns...
FRANKFURT, Germany-Moody's Investors Service has downgraded French vendor Alcatel's senior debt ratings to B1 from Ba1, reflecting the company's dwindling revenue flow, the need to downsize and lack of financial flexibility."The negative rating outlook, however, reflects Moody's view that, with no indication yet of...
NEW YORK—Moody's Investors Service Inc. said Monday it has downgraded about $5.2 billion in L.M. Ericsson debt to Baa3, one tier above junk bond status, from Baa2."The rating downgrade is based on a downward revision of Moody's expected transition cycle for mobile infrastructure equipment,...
WAYNESBORO, Va.—Ntelos Inc., Waynesboro, Va., a regional wireline and wireless telecommunications provider, has received a downgrade from Moody's Investors Service Inc. on the speculative-grade rating of approximately $605 million in bank credit facilities and debt securities.In lowering Ntelos' debt to Caa3 from B3, Moody's...
NEW YORK—Moody's Investor Services cut its long-term credit rating for Qwest Communications International Inc. citing concerns about the telecommunications company's liquidity position, cash drain at its long-distance operating subsidiary, slowing growth in its local telephone service, continued high debt levels, ongoing Securities and Exchange...
FRANKFURT, Germany—Ratings agency Moody's Investors Service has downgraded Marconi plc to Ca from B2 in its unsecured bond, while the company's senior implied rating dropped to Caa3 from B1."The rating action reflects Marconi's extremely weak liquidity profile, uncertainty regarding the company's funding horizon from...
