Fitch rates Sprint notes B+/RR4

Fitch Ratings said it assigned a B+/RR4 rating to Sprint Corp.'s proposed benchmark-sized senior unsecured notes due 2024.

The proceeds will be used for general corporate purposes, which may include redemptions or service requirements of outstanding debt, network expansion and modernization.

The outlook is stable.

The senior notes will be fully and unconditionally guaranteed on a senior unsecured basis by Sprint's wholly owned subsidiary, Sprint Communications, Inc. Sprint fully and unconditionally guarantees on a senior basis the outstanding securities issuances of Sprint Communications, Sprint Capital Corp., Clearwire Communications LLC and iPCS, Inc.

Consequently, Fitch said it believes Sprint has created a guarantee structure such that the senior notes issued at Sprint Capital Corp., Sprint Communications and Sprint are pari passu.

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