On Aug. 14, 2002, Standard&Poor's Ratings Services assigned its 'AA-' rating to SBC Communications Inc.'s $1 billion senior unsecured note offering. The 'AA-' long-term and 'A-1+' short-term corporate credit ratings on the company were also affirmed at that time. Proceeds from the new notes will be used primarily for repayment of commercial paper. The ratings on SBC reflect the healthy cash flows from its core telephone operating companies and the strength of its wireless segment. The wireless business is comprised of a 60% economic share in Cingular Wireless LLC, which SBC owns in a jointly controlled partnership with BellSouth Corp. SBC has focused its efforts in 2002 on growing its data and broadband service offerings and customer base,
