AT&T flirts with junk status after S&P review
Poor first-quarter results and wider industry pressures have contributed to agency action
The corporate credit rating for the country’s largest long-distance telephony provider, AT&T, has edged closer to junk in recent weeks, as rating agency Standard & Poor’s placed the company’s BBB long-term rating on review for a possible downgrade.
Rosemarie Kalinowski, telecoms analyst at S&P, says the action is based on continued weakening in the company’s business risk profile in the light of disappointing first-quarter results and industry pricing pressures. In particular, she points to
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