S&P keeps Dobson on positive watch

Standard & Poor's said its ratings on Dobson Communications Corp. and its related entities, including the B- corporate credit rating, remain on CreditWatch with positive implications, where they have been since July 2.

AT&T Inc. (A/stable/A-1) completed its acquisition of Dobson on Thursday. The company indicated in an 8-K filing with the Securities and Exchange Commission that it expects to redeem about $2.5 billion of outstanding Dobson debt by the end of 2007. The agency said it will withdraw all ratings on Dobson when AT&T redeems the outstanding debt.

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