Sprint Corp. Ratings Still on CreditWatch With Positive Implications Following Announcement Jan 00
- ID: 2083994
- January 2000
- Standard & Poors
NEW YORK (Standard & Poor's CreditWire) Jan. 27, 2000--Standard & Poor's ratings on Sprint Corp. and unit Sprint Capital Corp. remain on CreditWatch with positive implications (see list below) following Sprint's announcement that it is selling its share in Global One to Deutsche Telekom AG and France Telecom for $1.13 billion in cash and repayment of $276 million in debt. Proceeds from the sale are expected to offset some future financing needs for operating and capital requirements. Sprint's ratings were placed on CreditWatch with positive implications on Oct. 5, 1999, due to its entering a definitive agreement to merge with MCI WorldCom Inc. The merger is expected to close in the second half 2000 subject to approval by shareholders and...
Companies mentioned in this report are:
- Sprint Nextel Corp.
- Sprint Capital Corp.
Action: CreditWatch Update
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Research type: News
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