S&P ups Verizon outlook to stable

Standard & Poor's said it revised its outlook on Verizon Communications Inc. to stable from negative and affirmed its ratings, including the A corporate credit rating.

The agency said that the outlook revision reflects its assessment that over the next one to two years, the company's financial performance and cash resources should be sufficient to accommodate substantial cash requirements for its businesses, as well as anticipated stock repurchases.

According to S&P, the ratings on Verizon reflect its wireless segment's rapid growth and strong business position and cash generation, sizable local exchange operations capable of producing substantial free cash flow and a modest financial risk profile.

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