NEW YORK (Standard & Poor's CreditWire) July 26, 1999--Standard & Poor's today assigned its triple-'A' rating to BellSouth Capital Funding Corp.'s proposed $500 million quarterly interest bonds (QUIBS) due 2039. Proceeds from this issue will be used to refinance commercial paper borrowings, as well as for general corporate purposes. At the same time, Standard & Poor's affirmed its outstanding ratings on BellSouth Capital Funding Corp., parent BellSouth Corp. (BellSouth), and units (see list below). The outlook is negative. BellSouth's continued steady cash flow stems from local telephony, robust growth in cellular cash flows, and a traditionally conservative dividend policy. These factors have enabled the company to internally generate cash flows in excess of capital expenditures and dividend requirements of about...
Companies mentioned in this report are: BellSouth Capital Funding Corp.,BellSouth Telecommunications Inc.,BellSouth Corp.,BellSouth Telecommunications 1994-A Pass Through Trust
Action: New Rating
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Research type: News
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