NEW YORK (Standard&Poor's) Jan. 9, 2007--Standard&Poor's Ratings Services said today that it placed its ratings for Reston, Va.-based wireless carrier Sprint Nextel Corp., including the 'BBB+' corporate credit rating, on CreditWatch with negative implications, affecting about $22 billion in outstanding debt. "The CreditWatch placement follows the company's announcement regarding its outlook for 2007, which includes a significant decline in cash flow and flat revenue growth," said Standard&Poor's credit analyst Allyn Arden. We are particularly concerned about the loss of integrated digital enhanced network (iDEN) customers following the merger with Nextel because these represent a sizable, profitable segment of the business. In resolving the CreditWatch, Standard&Poor's will evaluate Sprint Nextel's strategy to mitigate
