NEW YORK (Standard&Poor's) Nov. 10, 2005--Standard&Poor's Ratings Services said today that its ratings on the debt of the local telephone division (Sprint Local) of Sprint Nextel Corp. remain on CreditWatch with negative implications. The local division is composed of Centel Corp. (BBB-/Watch Neg/--), Centel Capital Corp. (BBB-/Watch Neg/--), Central Telephone Co. (BBB-/Watch Neg/--), Sprint - Florida, Inc. (BBB-/Watch Neg/--), and Carolina Telephone&Telegraph Co. (BBB-/Watch Neg/--). The implications were revised to negative from developing on Aug. 4, 2005, reflecting the potential that this entity could be rated below investment grade after its spin-off from Sprint Nextel. "Despite the relatively moderate proposed capital structure, strong EBITDA margins, and good discretionary cash flow characteristics, we are concerned
