NEW YORK (Standard&Poor's) June 21, 2007--Standard&Poor's Ratings Services said today it assigned its 'BBB' rating to Reston, Va.-based Sprint Nextel Corp.'s $750 million senior unsecured floating-rate notes due 2010. At the same time, we affirmed all other ratings, including the 'BBB' corporate credit rating. The outlook is negative. Total debt is approximately $22 billion. Sprint Nextel, a wireless carrier, will use the proceeds for general corporate purposes, including the repayment of outstanding affiliate debt. "The issue does not meaningfully affect Sprint Nextel's credit profile," said Standard&Poor's credit analyst Allyn Arden. The ratings on Sprint Nextel reflect a satisfactory business profile from its position as the third-largest wireless carrier in the U.S., the Sprint wireless
