Strong wholesale subscriber growth. Highly leveraged financial risk profile based on our expectation that the company will likely run out of cash in 2012; A vulnerable business risk profile as a developmental stage company; Significant competition from better capitalized wireless carriers, including AT&T and Verizon; Limited operating history; and Technology risk. The ratings on Bellevue, Wash-based wireless provider Clearwire Corp. reflect its highly leveraged financial risk profile based on Standard & Poor's Ratings Services' expectation that the company will likely fully deplete its cash in 2012. The ratings also reflect our view that Clearwire has a vulnerable business position as a developmental-stage company with significant competition from better capitalized wireless carriers, including AT&T Mobility and Verizon Wireless, which are deploying...
Companies mentioned in this report are: Clearwire Corp.,Clearwire Communications LLC,Clearwire Finance Inc.
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