Standard&Poor's said today that Sprint Corp.'s (BBB-/Stable/A-3) second quarter 2002 earnings results have no impact on the company's credit rating or outlook because, as expected, the company's long-distance revenues continue to be affected by competitive pricing, wireless substitution, and regional Bell operating company entry. In addition, PCS net customer additions were in line with revised guidance. Consolidated revenue was $6.83 billion compared with $6.76 billion in the first quarter of 2002, while EBITDA was $1.94 billion compared with about $1.78 billion in the first quarter of 2002. On the positive side, the company indicated that it would be free cash flow breakeven by year-end 2002, which is a $400 million improvement from previous guidance. Commencing in the second
