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Sprint Capital Corp. $2 Billion Senior Unsecured Notes Rated 'BBB+' Mar 02 Product Image

Sprint Capital Corp. $2 Billion Senior Unsecured Notes Rated 'BBB+' Mar 02

  • ID: 2083751
  • March 2002
  • Standard & Poors

FEATURED COMPANIES

  • Sprint Capital Corp.
  • Sprint Nextel Corp.
  • MORE

Abstract
NEW YORK (Standard & Poor's) March 7, 2002--Standard & Poor's said today it assigned its triple-'B'-plus rating to Sprint Capital Corp.'s proposed $2 billion senior unsecured notes, which will be unconditionally guaranteed by diversified telecommunications services provider Sprint Corp. (Sprint). Proceeds from the notes will be used to repay commercial paper. The triple-'B'-plus long-term and 'A-2' short-term corporate credit ratings on Sprint were also affirmed. The outlook is negative. Kansas City, Mo.-based Sprint had total debt outstanding of $22.6 billion as of Dec. 31, 2001. "Combined with the recently announced extension of the company's existing accounts receivable program, the credit facility secured by the assets of Sprint's directory publishing business, and the reduction in the FON group's capital spending for...

Companies mentioned in this report are:
- Sprint Nextel Corp.
- Sprint Capital Corp.

Action: New Rating

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.

- Sprint Nextel Corp.
- Sprint Capital Corp.

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