NEW YORK (Standard&Poor's) April 3, 2009--Standard&Poor's Rating Services said today it revised its outlook on Overland Park, Kan.-based wireless carrier Sprint Nextel Corp. and its subsidiaries to negative from stable. At the same time, we affirmed all other ratings on the company, including the 'BB' corporate credit rating. Total funded debt outstanding as of Dec. 31, 2008, was about $22 billion. "The outlook revision reflects our concerns that Sprint Nextel's credit measures could deteriorate further in 2009," said Standard&Poor's credit analyst Allyn Arden, "given the company's weaker business position stemming from the ongoing erosion of its subscriber base." Total debt to EBITDA was 3.9x for 2008, up from 2.8x a year ago as revenue
