NEW YORK (Standard&Poor's) May 13, 2005--Standard&Poor's Ratings Services today announced that its ratings on Sprint Corp. (BBB-/Watch Pos/--) remain on CreditWatch with positive implications. However, the CreditWatch implications on ratings of debt issued by operating companies in Sprint's local telephone division have been revised to developing from positive. These operating companies include: Centel Corp., Sprint – Florida Inc., Central Telephone Co., and Carolina Telephone&Telegraph Co. (all with 'BBB-' corporate credit ratings). "This CreditWatch revision reflects uncertainty about the ratings of this debt if the local division is spun off following Sprint's proposed merger with Nextel Communications," explained Standard&Poor's credit analyst Eric Geil. All ratings were initially placed on CreditWatch with positive implications
