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S&P: AT&T on watch positive, SBC affirmed
Standard & Poor's said it affirmed its ratings for SBC Communications Inc., including the A long-term and A-1 short-term corporate credit ratings.
At the same time, S&P placed its ratings of AT&T Corp., including the BB+ corporate credit and senior unsecured debt ratings, on CreditWatch positive.
S&P said these actions follow the announced pending acquisition of AT&T by SBC.
S&P said it views AT&T's stand-alone business risk as weaker than that of SBC. However, given the potential synergies of the transaction and the added business diversification of the combined company, S&P said SBC's business profile is expected to benefit from the transaction over the longer term.
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