On Feb. 8, 2006, Standard&Poor's Ratings Services withdrew its 'A-1' rating on San Antonio, Texas-based diversified telecommunications carrier AT&T Inc.'s (A/Watch Neg/A-1) $1.6 billion 3(A)2 extendible commercial notes (ECNs) and funding entity SBC International Inc.'s $3.5 billion 4(2) commercial paper program. The company has discontinued these commercial paper plans. Other ratings on AT&T Inc., including the 'A' corporate credit rating and the 'A-1' rating on the company's $12 billion 4(2) commercial paper program, remain on CreditWatch with negative implications, where they were placed on Jan. 13, 2006. The CreditWatch listings reflect our view that there is a higher level of uncertainty about the business prospects for the local wireline businesses of investment-grade communications carriers (see research report on
