- Published: June 2011
- Region: Global
Summary: Leap Wireless International Inc.
- Region: Global
- Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
The ratings on San Diego-based wireless carrier Leap Wireless International Inc. reflect a business risk profile assessment of weak, given the company's nontraditional flat-rate mobility, unlimited local usage wireless business model, and fairly limited operating history. Although Leap has demonstrated success in attracting subscribers to its less expensive wireless service, national players may begin to more aggressively target the company's subscriber base with their own tailored pricing plans as the wireless industry matures. Moreover, in the second and third quarters of 2010, the company actually experienced material net reductions in subscribers for the first time, although it did experience net customer additions in the fourth quarter of 2010. The ratings also reflect a highly leveraged financial profile, including Standard &...
Companies mentioned in this report are: Leap Wireless International Inc.,Cricket Communications Inc.
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Leap Wireless International Inc.,Cricket Communications Inc.