S&P might cut Vodafone Americas

Standard & Poor's said it placed its A- long-term corporate credit and BBB preferred stock issue ratings on Vodafone Americas Inc., a subsidiary of Vodafone Group plc, on CreditWatch with negative implications.

This action corrects the agency's affirmation and removal of the ratings on Vodafone Americas from CreditWatch negative as part of its recent rating action on the Vodafone group.

S&P said the CreditWatch placement reflects its expectation that it will lower the ratings on Vodafone Americas by one notch once Vodafone completes the sale of its 45% stake in Verizon Wireless, which the agency understands includes selling Vodafone Americas, to Verizon Communications Inc.

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