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S&P may upgrade eAccess
Standard & Poor's said it placed its BB+ long-term corporate credit rating and BB issue rating on eAccess Ltd. on CreditWatch with positive implications following eAccess' announcement that it will merge with Softbank Corp. by February 2013.
The agency said the CreditWatch placement reflects its assessment that the merger is likely to positively impact eAccess' business prospects and financial risk profile.
According to S&P, competition in the Japanese mobile market has been intensifying, backed by fast migration to smartphones and high-speed communications technology, including long-term evolution with full tethering functions.
In S&P's view, competition is more severe for eAccess as a small mobile carrier, even though the company has niche strengths in high-speed connections and relatively ample network capacity, as well as attractive rates.
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