Moody's rates Sprint notes B3, Ba3

Moody's Investors Service said it assigned a B3 rating to Sprint Nextel's proposed offering of senior unsecured notes and a Ba3 rating to Sprint's proposed offering of junior guaranteed unsecured notes.

All of Sprint's ratings remain on review for possible downgrade, including those just assigned and the company's B1 corporate family and probability of default ratings.

Moody's said it will continue its review of Sprint's ratings for possible downgrade focusing on Sprint's progress toward a fully funded business plan and the progress and impact of the company's plans to secure sufficient spectrum for its future operations.

The agency said it will also consider the execution of the company's LTE rollout relative to schedule and budget and Sprint's operational performance as demonstrated by post-paid subscriber additions and churn.

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