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BellSouth Corp & Units Rtgs Affirmed by S&P Nov 98
Standard & Poors, Nov 1998
Abstract
Standard & Poor's CreditWire 11/24/1998 -- Standard & Poor's today affirmed its triple-'A' unsecured debt and 'A-1'-plus commercial paper ratings on Bellsouth Capital Funding Corp. and BellSouth Telecommunications Inc. (BellSouth Telecom), and its triple-'A' corporate credit rating on BellSouth Telecom and BellSouth Corp. The affirmation follows BellSouth Corp.'s announcement of its plan to repurchase up to $3 billion in common stock. The company has also announced plans to split its common shares on a two-for-one basis. BellSouth Corp.'s substantial cash balances, which totaled in excess of $2 billion at Sept. 30, 1998, combined with a strong consolidated financial profile and healthy operating cash flows that total about $6 billion on an annualized basis, provide sufficient cushion to absorb the financial...
Companies mentioned in this report are: BellSouth Corp.,BellSouth Telecommunications Inc.,BellSouth Capital Funding Corp.
Action: Affirmed
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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