NEW YORK (Standard&Poor's) April 26, 2011--Standard&Poor's Ratings Services today assigned its 'A-' issue-level rating to AT&T Inc.'s proposed note issues (of an indeterminate total amount at present) due 2016 and 2021. The company intends to use net proceeds of the notes issues for general corporate purposes. The long-term corporate credit rating on AT&T is 'A-' and the rating outlook is stable. The rating continues to reflect an overall strong business risk profile and a financial risk profile that we consider intermediate, recognizing the company's substantial net free cash flow generation and adequate liquidity. Our business risk assessment incorporates the combined impact of a stronger and growing wireless business, with a wireline segment that we view as
