S&P drops Verizon

Standard & Poor's said it lowered the corporate credit rating on Verizon Communications Inc. to A- from A, short-term rating to A-2 from A-1, along with the senior unsecured debt at Verizon Communications and Cellco Partners.

The ratings were removed from CreditWatch, where they were placed with negative implications in August due to concerns about the company's near-term ability to improve its overall financial profile.

The outlook is stable.

The agency said it now views the company's financial risk profile as intermediate, rather than the prior modest.

The downgrade also considers its current financial parameters and expectations for only modest improvement over the next few years, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.