Moody's affirms iPCS

Moody's Investors Service said it affirmed iPCS, Inc.'s B3 corporate family and probability of default ratings, B1 rating of the company's first-lien notes and the Caa1 rating of second-lien notes.

As part of the rating action, Moody's said it changed the outlook to stable from developing and raised the company's liquidity rating to SGL-2, from SGL-3.

The ratings affirmation follows a review of iPCS' operating and financial results as well as an evaluation of the company's operating environment, Moody's said.

Moody's added that it changed iPCS' outlook to stable from developing to reflect the resolution of iPCS' lawsuit against Sprint in favor of iPCS, as Sprint announced that it plans to divest certain iDEN assets in the Midwestern markets to comply with an Illinois court ruling.

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