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Moody's lifts Alamosa, AirGate notes from junk
Moody's Investors Service said it upgraded Alamosa (Delaware), Inc.'s $250 million 8½% senior unsecured notes due 2012 and $250.6 million 11% senior unsecured notes due 2010 to Baa3 from Caa1 and AirGate PCS, Inc.'s $175 million first-priority senior secured floating-rate notes due 2011 to Baa3 from B2.
The outlook is stable.
The agency said the upgrade follows the issuance of unconditional and irrevocable guarantees of the notes on a senior unsecured basis by Sprint Nextel Corp. This concludes the review begun on Nov. 22, 2005.
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