Moody’s assigned B2 rating to pending issue of senior subordinate...
Moody’s assigned B2 rating to pending issue of senior subordinated notes by American Cellular, joint venture owned equally by AT&T Wireless and Dobson Communications. Moody’s said proceeds from proposed subordinated notes would be used, in part, to repay $200…
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million of bank debt. It said planned issue marked “sound financial management.” Moody’s said rating assumed that American Cellular would use financial flexibility of offering “with prudence” and that venture “does not become a vehicle for the launch of additional PCS properties, such as those Dobson recently won at auction from the FCC.”