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AT&T plans ‘significant’ debt cuts over four years to 1.8x leverage
By Devika Patel
Knoxville, Tenn., Dec. 5 – AT&T Inc. will use its cash to pay down debt and expects “significant” reductions in the next four years in the hopes of getting down to 1.8x ratio of debt to EBITDA.
“We’ll focus excess cash on paying down some debt,” senior executive vice president and chief financial officer John Stephens said at the UBS Global Media and Communications Conference in New York on Tuesday.
“We expect to get significant reductions in debt over the next four years and give us an opportunity to get closer to what was our more normal 1.8x range.
“We believe we can do that,” he said.
AT&T is a telecommunications services provider based in Dallas.
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