More Woes for Sprint and Clearwirehttp://www.fool.com/investing/general/2011/10/18/more-woes-for-sprint-and-clearwire.aspx Dan Radovsky
October 18, 2011
English majors, rejoice: I have only a few more cliches left to describe the dire economic straits that both Sprint Nextel (NYSE: S ) and Clearwire (Nasdaq: CLWR ) constantly find themselves trying to escape. Unfortunately, though, I'll have to throw one more hackneyed phrase into their saga: "piling on."
That's what it may seem the credit ratings agencies are doing to both companies. As if they didn't have enough woes, Sprint and Clearwire will each have an even deeper ratings hole to climb out of if they want to survive.
The junk bond man cometh
Sprint blew it by not reaching a "win-win arrangement with Clearwire," according to Moody's.
As for Clearwire, Moody's downgraded it one notch t