Research Update: AT&T Inc. Corporate Credit Ratings Lowered To 'A-/A-2' On Limited Expected Debt Reduction Dec 10
Standard & Poors, December 2010
Abstract
Global diversified telcom provider AT&T Inc. maintains an overall strong business risk profile underpinned by its growing wireless segment. Cash generation is strong, but the wireline segment continues to face secular pressure. Given our expectation of limited debt reduction, we now view the company's financial risk profile as intermediate. We are lowering our long-term corporate credit rating on the company to 'A-' from 'A' and the short-term rating to 'A-2' from 'A-1', removing all ratings from CreditWatch. The stable outlook reflects our expectations that the recent pattern of relatively stable overall financial performance will continue, with wireless growth roughly offsetting weaker performance of the wireline segment. On Dec. 6, 2010, Standard & Poor's Ratings Services lowered its ratings on Dallas-based...
Companies mentioned in this report are: AT&T Inc.,AT&T Corp.,Indiana Bell Telephone Co.,Michigan Bell Telephone Co.,Pacific Bell,BellSouth Telecommunications Inc.,Southwestern Bell Telephone Co.,Wisconsin Bell Inc.,BellSouth Corp.,BellSouth Capital Funding Corp.,Ameritech Capital Funding Corp.,Centennial Communications Corp.,AT&T Mobility II, LLC
Action: Downgraded
Action: Outlook: Stable
Action: Removed From CreditWatch
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
AT&T Inc.,AT&T Corp.,Indiana Bell Telephone Co.,Michigan Bell Telephone Co.,Pacific Bell,BellSouth Telecommunications Inc.,Southwestern Bell Telephone Co.,Wisconsin Bell Inc.,BellSouth Corp.,BellSouth Capital Funding Corp.,Ameritech Capital Funding Corp.,Centennial Communications Corp.,AT&T Mobility II, LLC
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