S&P revises Verizon outlook
Standard & Poor’s today changed its outlook on Verizon Communications to negative from stable based on the carrier’s higher-than-expected debt leverage and uncertainty about its revenue growth. At the same time, S&P affirmed its single A-plus corporate credit rating.
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Verizon reported outstanding debt of $64 billion at the end of its fiscal 2001. That’s a slight increase from the previous year, in part because of the $1.7 billion the company deposited with the FCC for licenses won in the January 2001 auction of NextWave’s spectrum that is the subject of litigation before the Supreme Court.
--Vince Vittore, executive editor
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© 2012 Penton Media Inc.
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