Fitch affirms TDS

Fitch Ratings said it affirmed the BBB+ issuer default ratings of Telephone and Data Systems, Inc. and its subsidiary United States Cellular Corp.

The outlook is stable.

Fitch said the affirmation reflects TDS' relatively conservative financial policies, improved credit metrics, diversified operations and good financial flexibility.

These factors are balanced against the competitive challenges in both segments of its business, the agency said.

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