BellSouth Corp & Units Rtgs Affirmed by S&P Nov 98
- ID: 1823044
- November 1998
- Standard & Poors
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.
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Research type: News
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