Fitch assigned BBB rating to proposed $4-$5 billion bond offering...
Fitch assigned BBB rating to proposed $4-$5 billion bond offering by AT&T Wireless. Company proposed senior notes with registration rights with expected tranches of 5, 10 and 30 years. It plans to use proceeds of offering for expanding network…
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capacity, enlarging footprint, developing advanced wireless Internet offerings. Fitch said rating was result of AT&T Wireless’s “strong quantitative credit protection measures and solid industry position.” Rating agency said: “An important additional consideration is management remains committed to maintain a strong and stable rating going forward.” Fitch said AT&T Wireless’s spectrum portfolio and its partnership with designated entity Alaska Native Wireless gave it “luxury” of sufficient bandwidth in 88 of top 100 markets for rolling out 3G services.