Various Sprint Nextel Loans/Issues Assigned Ratings; 'B+' Issuer Rating Unchanged, Outlook Still Negative - S&P Global Ratings’ Credit Research

Various Sprint Nextel Loans/Issues Assigned Ratings; 'B+' Issuer Rating Unchanged, Outlook Still Negative

Various Sprint Nextel Loans/Issues Assigned Ratings; 'B+' Issuer Rating Unchanged, Outlook Still Negative - S&P Global Ratings’ Credit Research
Various Sprint Nextel Loans/Issues Assigned Ratings; 'B+' Issuer Rating Unchanged, Outlook Still Negative
Published Aug 09, 2012
1766 words — Published Aug 09, 2012
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Abstract:

NEW YORK (Standard&Poor's) August 9, 2012—Standard&Poor's Ratings Services said today that it assigned its 'B+' issue-level rating and '3' recovery rating to Overland Park, Kan.-based wireless carrier Sprint Nextel Corp.'s proposed senior notes (undetermined amount and maturity date). The '3' recovery rating indicates expectations for meaningful (50%-70%) recovery in the event of payment default. We expect the company to use net proceeds to repay upcoming maturities at subsidiary Nextel Communications Inc. Standard&Poor's also revised the recovery rating on Sprint Nextel's existing senior unsecured debt to '3' from '4' following a revision in our approach to analyzing wireless carriers. Our revised approach applies the greater of two valuation methods. We estimate an enterprise value based

  
Brief Excerpt:

RESEARCH Various Sprint Nextel Loans/Issues Assigned Ratings; 'B+' Issuer Rating Unchanged, Outlook Still Negative Publication date: 09-Aug-2012 Primary Credit Analyst: Allyn Arden, CFA, New York (1) 212-438-7832; allyn_arden@standardandpoors.com...

  
Report Type:

Ratings Action

Ticker
S
Issuer
Sprint Communications Inc.
GICS
Integrated Telecommunication Services (50101020)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Various Sprint Nextel Loans/Issues Assigned Ratings; 'B+' Issuer Rating Unchanged, Outlook Still Negative" Aug 09, 2012. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Various-Sprint-Nextel-Loans-Issues-Assigned-Ratings-B-Issuer-Rating-Unchanged-Outlook-Still-Negative-1000266>
  
APA:
S&P Global Ratings’ Credit Research. (). Various Sprint Nextel Loans/Issues Assigned Ratings; 'B+' Issuer Rating Unchanged, Outlook Still Negative Aug 09, 2012. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Various-Sprint-Nextel-Loans-Issues-Assigned-Ratings-B-Issuer-Rating-Unchanged-Outlook-Still-Negative-1000266>
  
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