Diversified revenue mix. Nationwide wireless network based on one technology. Relatively stable cash flows of the local telephone business operating in smaller, less competitive markets. Good liquidity. Heavy competitive pressures in the long-distance segment. A wireless subscriber base with roughly 25% sub-prime customers and above average churn. Slowing growth rates in the wireless segment. The ratings on Sprint Corp. reflect cash flow diversity from its position as a major provider of wireless, long-distance, and local telecommunications services. The company, which is organized into two tracking stocks intended to reflect the performance of particular business units, is analyzed on a consolidated basis. The wireless operations fuel most of the company's growth and are bolstered by a relatively well-protected, but mature, incumbent
