On Dec. 21, 2005, Standard&Poor's Ratings Services affirmed its 'A-' corporate credit rating on Sprint Nextel Corp. and subsidiaries. All ratings on Nextel Partners Inc., including the 'BB' corporate credit rating, remain on CreditWatch with positive implications. These actions follow the companies' announcement that $28.50 per share is the price at which Sprint Nextel will purchase Nextel Partners' class A common stock under the put right initiated by Nextel Partners following the Sprint Nextel merger. The outlook on Sprint Nextel is stable. The ratings on Nextel Partners were placed on CreditWatch on Oct. 25, 2005, following the exercise of the put right. The value of the put transaction is within an acceptable range of the amount that had
