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BellSouth Corp. Apr 02
Standard & Poors, April 2002
Abstract
The ratings on BellSouth Corp. reflect its favorable business position in the local telephone and domestic wireless markets, which generate strong operating cash flows. However, competition and a general economic slowdown will challenge the company through 2002. Longer term, such challenges could induce BellSouth to continue its forays into higher-risk, high-growth business ventures, such as its Latin American wireless businesses. Largely as a result of the relative stability of its local exchange telephone segment's operating cash flows, the company's EBITDA interest coverage was about 8.4 times (x) and debt to EBITDA was 1.6x for 2001, including off-balance-sheet guarantees and its proportionate 40% share of Cingular Wireless LLC. Cingular, BellSouth's wireless joint venture, owned 60% by SBC Communications Inc., generated about...
Companies mentioned in this report are: BellSouth Corp.,BellSouth Telecommunications Inc.,BellSouth Capital Funding Corp.,BellSouth Telecommunications 1994-A Pass Through Trust
Action: Review
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: Full Analysis
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