NEW YORK (Standard&Poor's) Oct. 19, 2012--Standard&Poor's Ratings Services said today that its ratings and outlook on Dallas-based telecommunications provider AT&T Inc. (A-/Stable/A-2) are not affected by the company's plans to partially fund its approximate $10.2 billion net unfunded pension obligation through a $9.5 billion contribution of AT&T Mobility II LLC preferred equity. AT&T Mobility II LLC is the holding company for AT&T's wireless business. The contribution of preferred equity requires U.S. Department of Labor approval. Standard&Poor's does not anticipate ascribing any equity credit to the preferred instrument. While the preferred stock does not have a stated maturity, it has a put option in the seventh year, and therefore we view its permanence as insufficient
