Briefs: S&P rates Qwest notes at B

Nov 02, 2005

Standard & Poor's said Wednesday it has assigned Qwest Communications International's convertible notes due 2025 a B rating.

The credit-rating agency said the $1 billion worth of notes from the phone carrier is "notched two below the corporate credit rating, reflecting the fact that there are substantial priority obligations relative to this issue."

"The ratings reflect the company's weak overall business position and aggressive financial profile," credit analyst Catherine Cosentino said in a news release.

The company added that "while the company is the dominant local telephone exchange carrier in its 14-state market, representing some 15 million access lines, its satisfactory business position in its local markets is somewhat offset by its ongoing presence in the long-haul communications business. The long-haul business is viewed as having a vulnerable business risk profile, after suffering from significant pricing pressures over the past few years because of very aggressive competition, as well as larger business customers' migration to new (Internet protocol) technologies from traditional circuit-switched services."

Copyright 2005 by United Press International

Explore further: MasterCard pay by face verification to start as pilot program

Related Stories

More deals ahead? China fund buys Silicon Valley chip maker

Apr 08, 2015

China's aggressive new policy to expand its semiconductor industry is worrying U.S. chipmakers, many of which are based in Silicon Valley, and raising potential national security concerns as it begins to acquire U.S. tech ...

Microsoft event to talk about fresh-start Windows 9

Sep 26, 2014

Microsoft is about to introduce Windows 9 next week at an event, ahead of its widespread release in 2015. The project for the next Windows operating system has been given the internal code name as Threshold.

Recommended for you

Solar Impulse 2 pilot becomes aviation legend

Jul 04, 2015

At 62 years of age, Swiss Solar Impulse 2 pilot Andre Borschberg has made aviation history with a record breaking solo flight across the Pacific that he has called "an interior journey".

Facegloria: Facebook for Brazil's Evangelicals

Jul 04, 2015

Fluffy clouds waft across a blue sky as you log in and while you chat with friends, Gospel music rings out: welcome to Facegloria, the social network for Brazilian Evangelicals.

Mexico City proposes regulations for Uber

Jul 04, 2015

Mexico City is proposing regulations that would allow Uber and other smartphone-based ride-sharing apps to operate, while requiring drivers and cars to be registered, the city's Office of Legal and Legislative Studies said ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.