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Moody's rates Clearwire exchangeables Ba1
Moody's Investors Service said it assigned a Ba1 rating to co-issuers Clearwire Communications LLC's and Clearwire Finance, Inc.'s existing $629 million 8.25% exchangeable notes due 2040.
The rating is supported by Sprint Corp. and Sprint Communications, Inc. providing an irrevocable and unconditional guarantee in respect of the Clearwire notes.
The rating is given an additional uplift due to the high asset coverage provided by Clearwire's extensive spectrum holdings.
The company's other ratings and stable outlook remain unchanged.
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