S&P: Outlook Steady on Sprint and Clearwire

After DISH Network's (NASDAQ: DISH  ) surprise counteroffer to Sprint Nextel's (NYSE: S  ) bid for Clearwire (UNKNOWN: CLWR.DL  ) last week, Standard & Poor's Ratings Services took another look at Sprint's and Clearwire's corporate credit ratings and decided to keep them on "CreditWach with positive implications."

S&P said all of Sprint's ratings, including its B+ corporate rating will "remain on CreditWatch with positive implications," according to the S&P announcement.

S&P placed Sprint on CreditWatch in mid-October after the mobile operator announced it was negotiating a buyout deal with Japanese telecom SoftBank. Those talks eventually turned into an agreement to sell 70% of Sprint to SoftBank for $20.1 billion.

All of Clearwire's ratings, along with its corporate crediting rating of CCC, will also stay on S&P's CreditWatch, also with "positive implications."

S&P's original CreditWatch for Clearwire was announced after Sprint signed an agreement in mid-December to buy the 49% of Clearwire it did not already control.

Despite DISH's offer to buy some Clearwire stock at a price 11% higher than that of Sprint's offer, S&P said there were "significant hurdles  for DISH to overcome in its bid for Clearwire."

Clearwire has said it is considering the bid; Sprint has said it is an inferior bid and should not be allowed to proceed.


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Related Tickers

12/31/1969 7:00 PM
CLWR.DL $0.00 Down +0.00 +0.00%
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S $6.63 Down -0.03 -0.45%
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