NEW YORK (Standard&Poor's CreditWire) March 12, 2001--Standard&Poor's today assigned its double-'A'-minus rating to SBC Communications Inc.'s $1 billion global senior unsecured notes due 2011. Proceeds will be used primarily to refinance existing commercial paper issuances. At the same time, Standard&Poor's affirmed its ratings on SBC Communications and related entities (see list below). The outlook is stable. The ratings on SBC and its subsidiaries reflect the strong cash flows from the company's core telephone operating companies and SBC's improved business position resulting from its merger with Ameritech Corp. The company's wireless business benefits from its partnership with BellSouth Corp. in Cingular Wireless LLC, which provides the company a larger, more national footprint as well as
