Moody's rates Sprint notes B3

Moody's Investors Service said it confirmed Sprint Nextel Corp.'s B1 corporate family rating and also assigned B3 ratings to its two proposed offerings of senior unsecured notes due 2020 and 2022.

The confirmation of the corporate family rating reflects the substantial progress the company has made towards having a fully funded business plan and, as importantly, because S&P believes that the company's turnaround is gathering steam.

The outlook is stable. The agency said the stable outlook reflects the belief that recent operational improvements will be sustained and that the Network Vision project will remain on schedule and will produce the expected benefits.

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