SAN FRANCISCO (Standard&Poor's) March 29, 2010--Standard&Poor's Ratings Services said today that AT&T Inc.'s (A/Negative/A-1) announcement regarding the financial impact of the recent federal health care legislation does not affect the company's `A' corporate credit rating. In an 8-K filed March 26, 2010 with the SEC, AT&T noted that it intends to record a noncash charge of approximately $1 billion in the first quarter of 2010. The charge stems from a change in the tax treatment of the Medicare Part D subsidy pursuant to the new health care legislation, and will result in the company having to reduce its deferred tax assets on its balance sheet. The size of this charge relative to AT&T's revenue and cash
