S&P: SunCom on positive watch

Standard & Poor's said it placed its ratings on SunCom Wireless Holdings Inc., including the B- corporate credit rating, on CreditWatch with positive implications.

The agency said that the CreditWatch placement follows T-Mobile USA's definitive agreement to acquire 100% of the common stock of SunCom for about $2.4 billion, including the assumption of debt.

The agency noted that it sees the expanded wireless footprint to be gained from the SunCom acquisition as strategically important to T-Mobile USA, adding that it also anticipates that SunCom assets will be integrated into T-Mobile's network.

© 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.