Standard&Poor's said today that Sprint Corp.'s (BBB+/Negative/A-2) affirmation of its fiscal 2002 financial guidance for its PCS and FON groups has no impact on the company's credit rating or outlook. Sprint said it expects Sprint PCS to add between 700,000 and 750,000 subscribers during the first quarter of 2002, and three million for the full year. The company also reaffirmed its 2002 EBITDA guidance of $3.0 billion for PCS and $4.6 billion for the FON group. Standard&Poor's expects the company to deleverage during 2002 and achieve a debt-to-EBITDA ratio of about 3 times, which is reflective of its rating level.
