NEW YORK (Standard&Poor's) Jan. 25, 2002--Standard&Poor's today assigned its double-'A'-minus rating to SBC Communications Inc.'s $1 billion 5.875% senior unsecured global notes due Feb. 1, 2012. Proceeds will be used to repay a portion of commercial paper borrowings and for general corporate purposes. At the same time, Standard&Poor's affirmed its existing ratings on SBC and its related entities (see list below). The outlook is stable. The ratings on SBC and its subsidiaries reflect the healthy cash flows from the core telephone operating companies and the growing 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
