NEW YORK-Moody's Investors Service placed the long-term debt ratings of Ameritech Corp., Chicago, and the affiliates it supports under review for possible downgrade.The rating agency announcement, which affects about $2.2 billion in debt and preferred stock, all rated in the investment grade `A' range,...
NEW YORK-Globalstar, L.P., which plans to become a wholesaler of a satellite-based wireless voice and data communications, will sell a $325 million issue of senior notes.Globalstar, headquartered in New York, expects to begin offering commercial service in the fall of next year from a...
NEW YORK-Moody's Investors Service said Oct. 14 it had assigned a speculative grade rating of B1 to Audiovox Corp.'s $95 million senior secured revolving credit facility, which matures in 2000.Audiovox, headquartered in Hauppauge, N.Y., reported about $600 million in revenues for the fiscal year...
NEW YORK-Nextel Communications Inc., the largest 800 MHz enhanced specialized mobile radio carrier in the country, plans to sell $500 million in 10-year debt.Moody's Investors Service, New York, announced Oct. 15 it had given the proposed issue of senior discount notes a speculative grade...
NEW YORK-Microcell Telecommunications Inc., a Montreal-based personal communications services provider, went public Oct. 8 with an initial offering of 14.7 million nonvoting shares of Class B common stock.The initial selling price of the cross-border sale was at the high end of the anticipated share...
NEW YORK-Moody's Investors Service announced Oct. 2 the speculative grade ratings it assigned to $490 million in new debt securities that Rogers Cantel Inc., Canada's largest wireless carrier, sold privately.The rating agency assigned a Ba3 rating to $275 million in 10-year notes due in...
NEW YORK-Metrocall Inc. last week launched a private sale of $150 million in senior subordinated notes due 2007 to repay partially the sum the paging provider has borrowed under a secured credit facility.The sale was expected to continue this week and to close later...
NEW YORK-Telesystem International Wireless Inc., Montreal, was expected to place privately last week a 10-year note issue of about $150 million to help finance its overseas ventures in cellular telephony, specialized mobile radio and paging.Part of the proceeds also will be used toward Telesystem's...
NEW YORK-In an attempt to raise funds for a worldwide, low-earth-orbit satellite-based digital telecom system, Globalstar L.P. announced plans to sell $200 million of senior notes due 2004 in an exempt-from-registration offering.Globalstar hopes to build and launch 56 LEO satellites, as well as gateways...
A $1 billion capital infusion from Bill Gates' Microsoft Corp. will help cable giant Comcast Corp. accelerate construction of a fiber-optic cable network to expand Internet access to millions of Americans.In purchasing an 11.5 percent stake in Comcast, the nation's fourth-largest cable company and...
NEW YORK-Incumbent and new carriers in Europe, the world's third- largest telecommunications market, are in reasonably good shape to meet competitive pressures despite uncertainties posed by pending deregulation, according to a report just published by Moody's Investors Service Inc., New York.As the World Trade...
NEW YORK-Moody's Investors Service announced May 21 it raised the investment grade ratings on the outstanding senior unsecured debt of Cincinnati Bell Inc. to A2 from A3.A key factor in the New York-based rating agency's upgrade decision is the status of a significant subsidiary...
NEW YORK-Moody's Investors Service announced May 21 it raised the investment grade ratings on the outstanding senior unsecured debt of Cincinnati Bell Inc. to A2 from A3.A key factor in the New York-based rating agency's upgrade decision is the status of a significant subsidiary...
NEW YORK-Frontier Corp. of Rochester, N.Y., sold May 21 a $300 million debt issue of notes due 2004 priced at 99.996 percent of par, or face, value to yield 7.257 percent.Salomon Brothers Inc., New York, was lead underwriter for the debt offering, for which...
NEW YORK-Moody's Investors Service, New York, has assigned an investment grade rating of A3 to a $2 billion medium-term note program by NEC Corp. in Tokyo and NEC Industries plc in London."In spite of expectations for continuation of a severe competitive environment, Moody's believes...
NEW YORK-Comcast Cellular Holdings Inc., a newly formed holding company, plans to sell privately $900 million in senior unsecured notes that will be used to help repay the outstanding debt of Comcast Cellular Communications Inc.Comcast Cellular Communications, which has 762,000 subscribers in the mid-Atlantic...
NEW YORK-SK Telecom Co. Ltd., South Korea's primary cellular and paging carrier, sold $230 million in Yankee notes April 24, partly to finance its Code Division Multiple Access digital cellular rollout.Seoul-based SK Telecom, whose stock is listed on the London and Korea stock exchanges,...
NEW YORK-Moody's Investors Service Inc. said the proposed merger of U S West Media Group's domestic wireless businesses and its interest in PrimeCo Personal Communications L.P. into AirTouch Communications Inc. will have no rating impact for either company.The rating agency said AirTouch's senior notes...
NEW YORK-Start-up players in personal communications services are at an awkward and critical juncture where riding the accelerator is necessary to roll out service and riding the brake is required to get public financing."There is a divide right now that I'd characterize as huge,...
Arch Communications Group Inc. amended two credit agreements for various subsidiaries, in part to help finance future purchases of narrowband personal communications services spectrum.In separate news, Moody's Investor Services Inc. lowered its ratings on some of Arch's debt.Arch's credit facility for subsidiary USA Mobile...
NEW YORK-Prime Matrix Wireless Communications, a California-based cellular reseller, plans to sell publicly an $80 million issue of senior notes due 2004.Prime Matrix, headquartered in Calabasas, will be the largest cellular reseller in California after completing its announced acquisition of ComTech Inc. in Hayward,...
NEW YORK-The New York State Public Service Commission approved March 20 the merger of Nynex Corp. and Bell Atlantic Corp.As a condition, state regulators required Nynex to spend $500 million to improve its telephone network and to hire several hundred new employees to improve...
NEW YORK-McLeod Inc. is expected to sell publicly $200 million in debt by early March, some of which will be used to build out the 26 personal communications services licenses it won in the recent Federal Communications Commission D- and E-block auctions.Salomon Brothers Inc.,...
NEW YORK-Qualcomm Financial Trust I, wholly owned by Qualcomm Inc., San Diego, plans to sell a $450 million issue of convertible preferred stock due 2012 to help finance the parent company's expansion.In an announcement Feb. 18, Moody's Investors Service Inc., New York, assigned a...
