On Jan. 22, 2008, Standard&Poor's Rating Services lowered its corporate credit and senior unsecured ratings on Reston, Va.-based wireless carrier Sprint Nextel Corp. to 'BBB-' from 'BBB' and removed all ratings from CreditWatch where they were placed on Oct. 9, 2007 with negative implications. The outlook is negative. At the same time, we affirmed the 'A-3' commercial paper rating. Total debt on an operating lease adjusted basis and including unfunded pensions and other post-employment benefits (OPEBs) as of Sept. 30, 2007 was approximately $34 billion. Sprint Nextel's ratings were placed on CreditWatch following the company's announcement that it had lost about 337,000 postpaid subscribers in the third quarter of 2007 and that revenue and EBITDA would be below
