NEW YORK-Moody's Investors Service Inc. confirmed the speculative grade rating of Ba1 on $1.8 billion in outstanding debt of Samsung Electronics Co. Ltd., including Samsung Electronics America Inc. and other subsidiaries guaranteed by the parent company.However, the New York rating agency also said it...
NEW YORK-CTI Holdings S.A., a pure play wireless carrier serving the interior region of Argentina, plans to place privately up to $150 million to help finance its network construction.By the end of last year, CTI had deployed 698 cell sites, which covered about 95...
NEW YORK-U S West Communications Inc.'s long-term debt ratings were downgraded from Aa3 to A2 by Moody's Investors Service Inc. for several reasons.Moody's said it is concerned about public-policy issues, financial pressures associated with the restructuring of businesses within the U S West Inc....
NEW YORK-Globo Comunicagues e Participagues S.A., doing business as Globopar, plans to sell a $300 million issue of 10-year senior unsecured notes to refinance a bridge loan and short-term debt.Globopar, headquartered in Rio de Janiero, is Brazil's leading media and telecommunications company. It has...
Socket Communications Inc. and Motorola Inc.'s Messaging Systems Products Group announced an agreement to develop and support software that will allow FLEX-enabled palmtop computers powered by the Windows CE operating system to receive personal, group and broadcast wireless messages. The agreement combines Socket's data...
NEW YORK-Cellular Communications International Inc., New York, plans to retire outstanding senior discount notes paying 13.25-percent interest and replace them with a private placement of about $225 million in new debt due 2005.Cellular Communications is a holding company whose only asset is its 10.3percent...
NEW YORK-Cable & Wireless Communications plc, the London-based international telecommunications conglomerate, sold a $1.8 billion Yankee bond issue March 4, through an underwriting syndicate led by HSBC Securities Inc and Merrill Lynch & Co.The issue was divided into three tranches: $750 million due 2003 and...
NEW YORK-Nextel International Inc., Seattle, plans to sell $300 million in 10-year senior discount notes to help with expansion plans, including construction of its integrated Dispatch Enhanced Networks in Argentina, Brazil, Mexico, Peru and the Philippines.The company plans its first commercial launch of iDEN...
NEW YORK-McLeodUSA Inc., Cedar Rapids, Iowa, announced March 10 it plans to place privately a $200 million senior discount note issue due 2008.Proceeds will help finance construction and operation of a personal communications services system and expand McLeodUSA's intra-city fiber-optic networks, among other things,...
NEW YORK-Moody's Investors Service, New York, announced Feb. 27 it lowered its ratings on $489 million of Cincinnati Bell Inc. debt after conducting a two-month review.Moody's said it lowered by three notches, to Baa2 from A2, its investment grade rating of Cincinnati Bell's long-term...
NEW YORK-The number of issuers defaulting on publicly held corporate debt more than doubled from 1996 to 1997, Moody's Investors Service reported in a new study.Moody's said that 64 issuers defaulted on $8.56 billion of long-term publicly held corporate debt last year, up from...
WESTBOROUGH, Mass.-Arch Communications Group Inc. earlier this month announced the termination of its previously disclosed definitive agreement to sell its site-management business to Telecom Towers L.L.C. of Arlington, Va. Arch said it plans to begin discussions with alternative buyers soon.Moody's Investors Service placed Arch's...
LONDON-Moody's Investors Service has assigned long-term ratings of Baa1 to the proposed $1 billion and $650 million bond issues of Cable & Wireless Communications, which will provide integrated telecommunications services in the United Kingdom.Owned 52.6 percent by Cable & Wireless plc, C&WC was created...
NEW YORK-In response to high levels of customer growth and usage, Nextel Communications Inc., McLean, Va., plans to accelerate construction of its nationwide network this year with at least $1.3 billion in privately issued debt securities.Nextel is an enhanced specialized mobile radio carrier targeting...
NEW YORK-Omnipoint Communications Services Inc. secured a $750 million bank credit facility, enough to replace $516 million in existing vendor financing commitments and to cover its 1998 capital expenditure needs.The eight-year senior secured term loan received speculative grade ratings of B2 and B+ from,...
NEW YORK-Moody's Investors Service assigned a speculative grade rating of B1 to a $130 million bank credit facility that Centennial Puerto Rico Wireless Corp. obtained to finance operating losses and the rollout of its personal communications services network.At the end of November, the year-old...
NEW YORK-Deutsche Telekom AG has received an investment grade rating of Aa1 from Moody's Investors Service for its $3.26 billion debt issuance program sold in European Currency Unit denominations.An ECU is based on a basket of European Community country currencies. One ECU was valued...
NEW YORK-AT&T Corp., New York, announced it will acquire Teleport Communications Group in a stock swap transaction valued at about $12 billion, based on AT&T's current stock price.The acquisition is AT&T's first big move into the local phone business since the breakup of Ma...
NEW YORK-Moody's Investors Service announced Dec. 22 it had lowered the speculative grade ratings to Ba2 from Ba1 on about $400 million in outstanding debt issued by Total Access Communication Public Co. Ltd., a wireless carrier headquartered in Bangkok, Thailand.Moody's took the action in...
NEW YORK-Sun Microsystems Inc., the Palo Alto, Calif., developer of the Java software programming language, has filed a shelf registration with the Securities and Exchange Commission for $1 billion in senior unsecured debt.A shelf registration allows companies up to two years from the filing...
NEW YORK-Compania de Telecomunicaciones de Chile S.A., a multiservice telecommunications company, announced it will purchase from VTR S.A. the 45-percent stake it doesn't already own in Startel S.A., the leading mobile telecommunications carrier in Chile.CTC, in which Spain's national telephone company, Telefonica de Espana,...
NEW YORK-Teligent Inc. hopes to celebrate Thanksgiving in a major way, assuming its plans to hit the public capital markets big time before month's end are realized.The Vienna, Va., upstart, with big-name backing, plans to build a point-to-multipoint wireless network to compete with local...
NEW YORK-Moody's Investors Service Inc. confirmed Monday its speculative grade ratings, all in the `B' range, on $1.4 billion of debt and preferred stock either outstanding or pending issue by Digital Equipment Corp. of Maynard, Mass.The ratings confirmation, albeit with a negative ratings outlook,...
