S&P ups Verizon Communications view to positive

Standard & Poor’s said it revised its outlook on Verizon Communications Inc. to positive from stable and affirmed its BBB+ corporate credit rating and A-2 short-term rating on the company.

The outlook revision reflects S&P’s expectation that leverage should continue to gradually decline, potentially reaching S&P’s 2.75x upgrade threshold by 2015. While the level of Verizon’s participation in the upcoming spectrum auctions remains uncertain, and will most likely delay reduction in leverage over the near term, S&P said it expects the company will continue to stockpile cash over the second half of 2014 to lessen needed debt funding.

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