Corporate Credit Rating: AA-/Stable/A-1+ Standard&Poor's today said that SBC Communications Inc.'s second quarter 2001 earnings announcement on July 25, 2001 has no effect on the ratings and outlook for the company and its subsidiaries. While the company announced that softness in the economy and competition in the Ameritech service territory have continued to adversely impact its switched access line base and call volume levels, such impacts have largely been factored into the rating for the remainder of 2001. Despite such pressures, the company's overall credit and business profile remains sufficiently strong to support the current ratings and outlook, especially as the company benefits in the remainder of 2001 from growth initiatives such as data, broadband DSL, long-distance, and
