On Aug. 11, 2004, Standard&Poor's Rating Services assigned its 'A+' rating to SBC Communications Inc.'s (A+/Watch Neg/A-1) proposed $1 billion global notes due 2016 and $500 million global notes due 2034. Simultaneously, Standard&Poor's placed these ratings on CreditWatch with negative implications in accordance with existing ratings for SBC. Proceeds will be used to repay a portion of the company's outstanding debt and for general corporate purposes. Standard&Poor's announced on March 26, 2004, that it will be conducting a review of the investment-grade regional Bell operating companies (RBOCs), including SBC Communications Inc., given the rising business risk that these carriers face. Accordingly, the current CreditWatch listing for the ratings of SBC, BellSouth Corp., and Cingular
