2014 Outlook - US Telecommunications (Summary) - Moody's Global Credit Research

2014 Outlook - US Telecommunications (Summary)

2014 Outlook - US Telecommunications (Summary) - Moody's Global Credit Research
2014 Outlook - US Telecommunications (Summary)
Published Dec 04, 2013
2 pages (1546 words) — Published Dec 04, 2013
Price US$ 750.00  |  Buy this Report Now

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Brief Excerpt:

...This is a summary of our US Telecommunications Outlook Presentation. Please click here to see the full presentation. + Our outlook for the US Wireless industry is positive. We expect that the wireless industry will continue to generate strong levels of free cash flow and that EBITDA minus capital spending growth, a proxy for free cash flow, will accelerate to 13%-15% in 2014 for the six carriers we follow. We also expect overall industry EBITDA to gain 8% next year as industry service revenues grow 3% to 4%, while spending will level off as Verizon Communications, Inc. (Baa1 stable) and AT&T Inc. (A3 stable) complete their initial LTE networks in 2013 and Sprint Communications, Inc. (Ba2 stable) and T-Mobile USA, Inc. (Ba3 stable) complete theirs for 2014. However, increasing usage and new service offerings will keep stress on the networks and will keep investment levels from falling + Low churn is helping some carriers. Churn is near record lows for Verizon and AT&T and trending lower...

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Industry Outlook

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Moody's Global Credit Research—Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.

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Moody's Global Credit Research. "2014 Outlook - US Telecommunications (Summary)" Dec 04, 2013. Alacra Store. Aug 06, 2020. <http://www.alacrastore.com/moodys-credit-research/2014-Outlook-US-Telecommunications-Summary-PBC_161062>
Moody's Global Credit Research. (). 2014 Outlook - US Telecommunications (Summary) Dec 04, 2013. New York, NY: Alacra Store. Retrieved Aug 06, 2020 from <http://www.alacrastore.com/moodys-credit-research/2014-Outlook-US-Telecommunications-Summary-PBC_161062>
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