The ratings on SBC Communications Inc. and its subsidiaries reflect the strong cash flows from the core telephone operating companies. The company's wireless business benefits from its partnership with BellSouth Corp. in Cingular Wireless LLC, which provides the company a larger footprint as well as increased scale economies for equipment purchases. Wireless operations are expected to be a significant growth vehicle for SBC in 2001, given Cingular's aggressive selling efforts and accompanying subscriber growth since its formation in late 2000. SBC will focus its efforts in 2001 on growing its data and broadband service offerings and customer base, including digital subscriber line (DSL), in combination with expansion of its long-distance subscriber base. The company currently provides long-distance services to about
