NEW YORK (Standard&Poor's) June 14, 2002--Standard&Poor's said today it lowered its long-term corporate credit rating on global communications provided Sprint Corp. to triple-'B'-minus from triple-'B'-plus based on the company's higher business risk profile. The company is the third-largest long-distance provider and the fourth-largest nationwide wireless network provider in the U.S. The short-term corporate credit rating was also lowered to 'A-3' from 'A-2'. The outlook is stable. As of March 31, 2002, Overland Park, Ks.-based Sprint had total debt outstanding of about $25 billion, including equity-linked units. "The higher business risk profile, especially of the wireless sector, is due to increased competition from other nationwide service providers and the impact on the quality of the subscriber base
