Strong market position as the third-largest wireless carrier in the U.S.; Leading wireless data penetration; Strong spectrum position; Satisfactory EBITDA margins; Solid liquidity; Moderate leverage; and Wholesale wireless operations help broaden market reach. Competitive wireless market; Merger integration and network technology implementation challenges; Declining average revenue per user (ARPU); and High churn due to a large percentage of subprime customers. The ratings on Reston, Va.-based wireless carrier Sprint Nextel Corp. reflect a satisfactory business profile stemming from its position as the third-largest wireless carrier in the U.S. and an industry-leading wireless data penetration rate. They also reflect a strong spectrum position on the Sprint legacy code division multiple access (CDMA) network; wholesale wireless operations, which help broaden market reach; satisfactory
