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S&P: Sprint Nextel, Clearwire on positive watch
Standard & Poor's said the B+ corporate credit rating and all other ratings on Sprint Nextel Corp. remain on CreditWatch with positive implications.
The ratings were placed on CreditWatch in October 2012.
The agency also said the CCC corporate credit rating and all other ratings on Clearwire Corp. remain on CreditWatch with positive implications.
The CreditWatch listing on Sprint Nextel followed news that Sprint Nextel signed an agreement to sell a 70% stake in the company to SoftBank Corp. for about $20.1 billion, which would include an $8 billion cash infusion.
The ratings on Clearwire were placed on CreditWatch with positive implications in December after Sprint Nextel signed an agreement to acquire the remaining 49% stake in Clearwire that it did not already own for about $2.1 billion plus the assumption of debt, S&P said.
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