S&P: Verizon unaffected

Standard & Poor's said its ratings on Verizon Communications Inc. (A/negative/A-1) are not affected by the proposed spinoff of the company's 1.5 million access lines in Maine, Vermont and New Hampshire into a new entity to be merged with the local telephone business of FairPoint Communications Inc. because the magnitude of the cash flow associated with these assets is not material to Verizon's overall credit profile and the $1.7 billion debt reduction associated with the transaction is modest relative to the company's $34.7 billion of total unadjusted consolidated debt as of Sept. 30.

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