Sprint Capital Corp. $2 Billion Senior Unsecured Notes Rated 'BBB+' Mar 02
- ID: 2083751
- March 2002
- Standard & Poors
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
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Research type: News
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