AT&T;’s Debt Rating Trimmed to Triple-B
From Dow Jones/Associated Press
Standard & Poor’s has cut the rating on AT&T; Corp.’s corporate credit and senior unsecured debt to triple-B, two rungs above speculative grade, despite a recent reduction in the company’s debt load.
S&P; said the one-notch downgrade Wednesday reflected the risk the Bedminster, N.J.-based long-distance carrier faced from encroaching technologies, competitive pricing pressures and the slow economic recovery.
The ratings agency said AT&T;’s rating outlook was stable. The ratings on the company’s short-term debt and commercial paper were left unchanged.
