We expect U.S.-based telecommunications provider AT&T Inc.'s adjusted net debt to EBITDA to be in the low-3x area over the next couple of years following its recent acquisitions of DIRECTV, NII Mexico, and Iusacell, coupled with its spending on the Advanced Wireless Service (AWS)-3 spectrum auction. We are affirming all of our ratings, including our 'BBB+' corporate credit rating, on the company. We are revising our assessment of the company's financial risk profile to "significant" from "intermediate" and our comparable rating analysis to positive from negative. The stable outlook reflects our expectation for low-single-digit percent revenue and EBITDA growth and leverage in the low-3x area over the next couple of years. On Aug. 20, 2015, Standard&Poor's Ratings Services
