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MCI WorldCom and Sprint Ratings Placed on CreditWatch Positive; Re: Merger Oct 99 Product Image

MCI WorldCom and Sprint Ratings Placed on CreditWatch Positive; Re: Merger Oct 99

  • Published: October 1999
  • Standard & Poors

FEATURED COMPANIES

  • Centel Capital Corp.
  • Centel Corp.
  • Central Telephone Co.
  • MCI Communications Corp.
  • MCI Inc.
  • Sprint Capital Corp.
  • MORE

Abstract
NEW YORK (Standard & Poor's CreditWire) Oct. 5, 1999--Standard & Poor's today placed its ratings on MCI WorldCom Inc. and units and its ratings on Sprint Corp. on CreditWatch with positive implications (see list below). The CreditWatch placement reflects today's announcement of a definitive merger agreement between MCI WorldCom and Sprint. The positive CreditWatch listing reflects the following considerations: -- MCI WorldCom will acquire Sprint in an all stock acquisition, which includes a collar but no downside cash component; -- Expected realization of significant cost synergies, based on the track record of savings realized with the September 1998 MCI Communications Corp./WorldCom merger; and -- Reduced capital expenditures. This transaction is subject to approval by U.S. and European regulators. Standard &...

Companies mentioned in this report are:
- MCI Inc.
- Carolina Telephone & Telegraph Co.
- Centel Corp.
- MCI Communications Corp.
- Sprint Nextel Corp.
- Sprint-Florida Inc.
- United Telephone Co. of Ohio
- Central Telephone Co.
- Centel Capital Corp.
- Sprint Capital Corp.
- Sprint Spectrum L.P.

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- MCI Inc.
- Carolina Telephone & Telegraph Co.
- Centel Corp.
- MCI Communications Corp.
- Sprint Nextel Corp.
- Sprint-Florida Inc.
- United Telephone Co. of Ohio
- Central Telephone Co.
- Centel Capital Corp.
- Sprint Capital Corp.
- Sprint Spectrum L.P.

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