NEW YORK-Moody's Investor's Service Inc. downgraded certain outstanding debt of Mobile Telecommunication Technologies Corp., Jackson, Miss.The New York-based rating agency downgraded its speculative grade rating to B3 from B2 on Mtel's $265 million issue of 13.5 percent notes due 2002. It also changed its...
NEW YORK-Sprint Spectrum L.P. and its wholly owned subsidiary, Sprint Spectrum Finance Corp., last week delayed and apparently downsized a planned issuance of $650 million in 10-year notes. By Aug. 15, the issue reportedly had been reduced in overall size to approximately $520 million.Originally...
NEW YORK-Advanced Radio Telecom Corp., a 38 GHz provider of wireless local loop service, announced Aug. 1 it had pulled a planned initial public offering of common stock and a concurrent debt issue."We are postponing both issues pending improved market conditions," said Thomas A....
NEW YORK-Moody's Investors Service Inc., New York, assigned a Caa long-term rating to two outstanding debt issues of Geotek Communications Inc., Montvale, N.J.The speculative grade rating, with a stable outlook, was assigned to $75 million worth of outstanding senior subordinated convertible notes due 2001,...
From Wall Street to Main Street, the outlook for the cellular industry remains positive, especially for major players abroad and minor players at home that exploit markets with lower competition and penetration levels.The new Telecommunications Act has unleashed forces that could transform the entire...
NEW YORK-Moody's Investors Service Inc. has assigned Prime-1 short-term ratings to a planned commercial paper program by Nokia Corp. and two of its subsidiaries.Nokia and its two guaranteed subsidiaries, Nokia Finance International B.V. and Nokia Treasury Pte. Ltd., are expected to issue as much...
NEW YORK-AirTouch Communications Inc. sold $650 million of debt July 11 to help pay for its acquisition of Cellular Communications Inc.The two-part issue of senior unsecured debt comprised $250 million of five-year notes priced at 99.851 to yield 7.161 percent, and $400 million of...
NEW YORK-Mobile Telecommunication Technologies Corp. hit the ground running last fall with its nationwide SkyTel 2-Way paging launch, stumbled over unforeseen obstacles and has now dusted itself off and resumed the race to commercial operation.That was the self-evaluation provided by Mtel Chairman John Palmer...
Andrew Corp. announced it has opened a sales office in Miami to process quotations and customer inquiries for the Caribbean, Central America, Venezuela, Colombia and for U.S.-based companies that export into those regions. Customer services in all other areas of South America are handled...
NEW YORK-ProNet Inc., one of the top 10 paging companies in the country, planned to sell concurrent stock and bond issues as early as last Friday.The common stock offering was proposed at four million shares, and the 10-year senior subordinated note issue at $100...
NEW YORK-The urge to merge struck again with an Easter weekend announcement that AirTouch Communications Inc. would pay about $1.65 billion to buy the 60 percent of Cellular Communications Inc. it doesn't already own.The proposed AirTouch takeover of CCI follows closely on the heels...
If London-based Cable & Wireless plc and British Telecommunications plc merge, the new enterprise could descend upon an auspicious Asian market and create a shake up among globally-footed wireless giants."This whole merger move is based on a wireless view of the world, because East...
NEW YORK-Two years after it divested itself of its international paging and cellular operations, Pacific Telesis Group, San Francisco, now confronts projections of two years of nearly flat earnings and cash flow until its new wireless ventures come into play, according to...
NEW YORK-Two major credit rating agencies have issued alerts about Mobile Telecommunication Technologies Corp. securities following the company's Feb. 22 release of disappointing year-end 1995 financial results.Mtel, headquartered in Jackson, Miss., is the sixth largest paging company in the United States. Its core operation...
NEW YORK-Arch Communications Group Inc. plans a $200 million bond issue, which received a B3 rating Feb. 22 from Moody's Investors Service, according to the agency.The bond issue will partially finance Arch's acquisition of Westlink Paging Inc., said Bob Nabholz, a director at Prudential...
Notable Technologies Inc. of Bellevue, Wash., has partnered with the National Dispatch Center Inc. to develop and deliver information services for paging, Cellular Digital Packet Data and personal communications services networks. Notable will serve as NDC's preferred provider of personal information services to be...
Lin Broadcasting Corp. can take until mid-May to accept or reject the latest offer by AT&T Corp. to buy the last 48 percent of Lin for about $3.3 billion.The $127.50 per share price was assessed by Wasserstein Perella & Co., the third appraisal group...
Lin Broadcasting Corp. can take until mid-May to accept or reject the latest offer by AT&T Corp. to buy the last 48 percent of Lin for about $3.3 billion.The $127.50 per share price was assessed by Wasserstein Perella & Co., the third appraisal group...
Every time you turn around, the telecommunications industry takes a leap in a new direction. But investing in a basketball franchise? Could be stretching it-unless you're Bruce Crockett, president and chief executive officer of Comsat Corp.With its roots in the satellite communications business, Comsat...
