On Aug. 4, 2005, Standard&Poor's Ratings Services said that its ratings on Sprint Corp. and Nextel Communications Inc. remain on CreditWatch with positive implications based on operating and financial improvement. Upon completion of the merger between the two companies, likely to close within the next few weeks, we expect to raise our corporate credit and senior unsecured debt ratings on Sprint to 'A-' from 'BBB-'. At the same time, we expect to raise our corporate credit rating on Nextel to 'A-' from 'BB+', and raise the rating on Nextel's senior unsecured debt to 'A-' from 'BB'. The outlook on the merged "Sprint-Nextel" will be stable. The ratings on both companies were independently placed on CreditWatch with positive implications--Sprint
