BULLETIN: Sprint Corp. Revises Forecasts for 2nd Quarter and Fiscal 2001 May 01

Standard & Poors, May 2001

Abstract
Corporate credit rating: BBB+/Negative/A-2 Standard & Poor's today said that Sprint Corp.'s announcement that it has revised its EBITDA and earnings forecasts for the second quarter and fiscal 2001 for the FON group (consolidated operations excluding Sprint PCS) has no immediate impact on the ratings. Sprint's forecast revisions reflect additional operating challenges in its long-distance business related to higher bad debt expense caused by bankruptcies of wholesale customers and reduced prospects for wholesale demand. The long-distance business has been under pressure in the last few years due to sharp price declines on the voice side of the business, and should continue to experience competitive threats as the Regional Bell Operating Companies expand its offering of long-distance services. These concerns and...

Companies mentioned in this report are: Sprint Nextel Corp.
Action: S&P Event

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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.

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