Sprint Corp’s victory over dissident shareholders that sees it acquiring Centel Corp has caused Standard & Poor’s Corp to raise debt ratings of several Sprint units and cut debt ratings of Centel’s Central Telephone Co units. Sprint and Centel both carry triple-B-minus ratings on senior unsecured debt, while Central Telephone’s is rated single-A.The agency raised to single-A from A-minus the senior unsecured debt of Carolina Telephone & Telegraph and senior secured debt of United Telephone Co of Florida, United Telephone Co of Ohio, and United Telephone Co of Pennsylvania. It cut to single-A from A-plus the senior secured debt of Central Telephone Co of Florida, Central Telephone Co of Virginia, and Central Telephone Co of Illinois.
Content from our partners
