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Recovery Report: Sprint Nextel Corp.'s Recovery Rating Profile Nov 11 Product Image

Recovery Report: Sprint Nextel Corp.'s Recovery Rating Profile Nov 11

  • Published: November 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services is assigning its issue-level and recovery ratings to Overland Park, Kan.-based wireless carrier Sprint Nextel Corp.'s proposed $3 billion of guaranteed notes due 2018 and $1 billion of notes due 2021. The company intends to use proceeds for general corporate purposes, which may include, among other things, redemptions or service requirements of outstanding debt, network expansion and modernization, and potential funding of Clearwire. We have also lowered our issue ratings on existing issuances following the recent downward revision of the company's corporate credit rating to 'B+' with a negative outlook. We revised our recovery ratings on existing unsecured note issuances to '4' from '3' because of lower recovery expectations resulting from the proposed increase in...

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

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 READ MORE >

- Sprint Nextel Corp.

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