Moody's: AT&T not pressured

Moody's Investors Service said that the scheduled expiration of AT&T Inc.'s $3 billion incremental credit facility on Dec. 15, 2008 is not expected to pressure its short-term ratings.

In its April 17 press release, Moody's said that if AT&T Inc.'s commercial paper outstandings exceeded $10 billion on July 31, the company's short term Prime-1 rating could come under pressure because of the short-term nature of the incremental credit facility available to support the CP borrowings.

During the intervening period, the agency said it has monitored the company's CP balances, which totaled $8.5 billion at June 30, and has determined that ongoing CP outstandings are likely to remain within the company's target range of $5 billion to $7 billion.

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