On Feb. 2, 2007, Standard&Poor's Ratings Services affirmed its 'A' rating on AT&T Inc.'s proposed floating-rate note issue due 2010, which was upsized to $1.5 billion from $1 billion, and $500 million of 5.625% global notes due 2016. Proceeds will be used for general corporate purposes, including repurchases of common stock. At the same time, we affirmed the 'A' corporate credit rating on AT&T Inc., since the proposed notes will not have a material impact on the company's credit profile. The outlook is negative. Pro forma for these financings, AT&T's total debt as of Dec. 31, 2006, was $62.2 billion. The ratings on the enlarged AT&T, a regional Bell operating company, and its related entities reflect the company's
