S&P upgrades rating on MetroPCS Communications

Credit ratings agency Standard & Poor's on Friday said it raised its ratings on wireless provider MetroPCS Communications Inc. because of the company's improving ratio of debt to cash flow.

S&P raised its noninvestment-grade corporate rating on the Richardson, Texas-based company to "B" from "B-" and said the outlook is stable.

The company had $3 billion in total funded debt outstanding as of March 31, S&P said. The agency expects MetroPCS to experience good growth in subscribers, which will improve cash flow despite start-up costs.