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BellSouth Capital Funding Corp.'s Proposed $500 Million Quarterly Interest Bonds Rated 'AAA' Jul 99
Standard & Poors, July 1999
Abstract
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
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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