NEW YORK (Standard&Poor's) Dec. 15, 2005--Standard&Poor's Ratings Services assigned its 'A-' rating to the $9.2 billion senior unsecured credit facility of Sprint Nextel Corp. The facility consists of a $6 billion five-year revolving loan and a $3.2 billion 364-day term loan. The term loan will be fully drawn at closing, and proceeds will be used to repay the $3.2 billion outstanding amount on the $6.2 billion bank facility of Nextel Communications Inc., which will be terminated. The new facility also will support $2.5 billion in letters of credit issued in connection with the FCC spectrum re-banding process. Sprint Nextel Corp., Sprint Capital Corp., and Nextel Communications Inc. are co-borrowers under the facility. Existing ratings on Sprint
