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BULLETIN: Sprint Corp. Revises Forecasts for 2nd Quarter and Fiscal 2001 May 01
Standard & Poors, May 2001
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
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
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Sprint Nextel Corp.