S&P ups UbiquiTel

Standard & Poor's said it raised its ratings on UbiquiTel Inc., including its corporate credit rating, which was raised to B- from CCC+ and its senior unsecured debt rating, which was raised to B- from CCC.

The outlook is positive.

S&P noted the ratings on these entities were removed from CreditWatch, where they were placed with positive implications on Nov. 2, because of strengthening operating and financial performance.

The rating upgrades reflect UbiquiTel's improving financial profile as a result of better operating performance and strong roaming and wholesale segment growth, recent network investments that improve quality and enhance data capabilities and its ability to generate modest operating cash flow, S&P said.

Rating constraints include concerns regarding the recent slowdown in retail subscriber growth, the company's lack of spectrum assets and its reliance on Sprint Nextel, the agency noted.

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