AT&T Inc. Financial Risk Profile Revised To "Significant" From "Intermediate"; Ratings Affirmed

We expect U.S.-based telecommunications provider AT&T Inc.'s adjusted net debt to EBITDA to be in the low-3x area over the next couple of years following its recent acquisitions of DIRECTV, NII Mexico, and Iusacell, coupled with its spending on the Advanced Wireless Service (AWS)-3 spectrum auction. We are affirming all of our ratings, including our 'BBB+' corporate credit rating, on the company. We are revising our assessment of the company's financial risk profile to "significant" from "intermediate" and our comparable rating analysis to positive from negative. The stable outlook reflects our expectation for low-single-digit percent revenue and EBITDA growth and leverage in the low-3x area over the next couple of years. NEW YORK (Standard&Poor's) Aug. 20, 2015--Standard&

...+ We expect U.S.-based telecommunications provider AT&T Inc.'s adjusted net debt to EBITDA to be in the low-3x area over the next couple of years following its recent acquisitions of DIRECTV, NII Mexico, and Iusacell, coupled with its spending on the Advanced Wireless Service (AWS)-3 spectrum auction. + We are affirming all of our ratings, including our '###+' corporate credit rating, on the company. + We are revising our assessment of the company's financial risk profile to "significant" from "intermediate" and our comparable rating analysis to positive from negative. + The stable outlook reflects our expectation for low-single-digit percent revenue and EBITDA growth and leverage in the low-3x area over the next couple of years. NEW YORK (Standard & Poor's) Aug. 20, 2015--Standard & Poor's Ratings Services today said it affirmed all of its ratings, including the '###+' corporate credit rating, on Dallas-based AT&T Inc. The outlook is stable. At the same time, we revised our assessment...

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