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Wireless

Sprint credit ratings cut on turnaround doubts

Thursday 17 September 2015 | 14:38 CET | News
Sprint has seen its credit ratings downgraded by Moody's Investors Service amid expectations that the efforts by its parent company Softbank will not be enough to turn around Sprint's operations in the next few years. Moody's downgraded Sprint's Corporate Family Rating to B3 from B1, the Probability of Default Rating to B3-PD from B1-PD and Sprint's senior unsecured rating to Caa1 from B2. "The brutal competition now playing out in the US wireless industry will pressure the financial performance of even the strongest operators," the ratings agency said. "Consequently, we expect Sprint's cash

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Categories: Mobile & Wireless
Companies: Softbank / Sprint
Countries: United States
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