Moody's might drop Telephone and Data, US Cellular

Moody's Investors Service said it placed the Baa2 senior unsecured and issuer ratings of Telephone and Data Systems, Inc. (TDS) and United States Cellular Corp. (US Cellular), TDS' 84% owned subsidiary, on review for downgrade.

Moody's said the review is due to its belief that US Cellular's weak operating performance is likely to persist despite its recent decision to offer Apple's iPhone products to its customers. Consequently, the agency believes that the company's financial metrics will continue to deteriorate.

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