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S&P rates Sprint Nextel program A-2
Standard & Poor's said it assigned its A-2 short term rating to Sprint Nextel Corp.'s potential $2 billion commercial paper program.
"The program is backed by the company's $6 billion unsecured revolving credit facility maturing in 2010," said S&P credit analyst Eric Geil.
The A- corporate credit and unsecured debt ratings on Sprint Nextel and its subsidiaries are affirmed, the agency said, noting that the ratings on Sprint Nextel continue to reflect a strong business profile from its wireless business' industry-leading average revenue per user and low subscriber churn from its entrenched customer base.
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