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BellSouth Corp. Ratings Affirmed, Outlook to Negative; Qwest Ratings On Watch Positive Apr 99
Standard & Poors, April 1999
Abstract
NEW YORK (Standard & Poor's CreditWire) April 20, 1999--Standard & Poor's today revised its outlook on BellSouth Corp., non-telephone funding conduit BellSouth Capital Funding Corp., and subsidiary BellSouth Telecommunications Inc. (BellSouth Telecom) to negative from stable. Ratings for the companies were affirmed (see list below). At the same time, Standard & Poor's placed its ratings for Qwest Communications International Inc. on CreditWatch with positive implications (see list). These rating actions follow BellSouth Corp.'s recently announced agreement with Qwest. BellSouth will purchase 10% of Qwest for $3.5 billion and formalize its joint marketing initiatives with the company, which is the nation's fourth-largest long-distance telephone company. The agreement better postures BellSouth for a fast-track deployment of its 'in region' long-distance strategy upon...
Companies mentioned in this report are: BellSouth Corp.,BellSouth Telecommunications Inc.,BellSouth Capital Funding Corp.,LCI International Inc.,Qwest Communications International Inc.
Action: Outlook Revised
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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