The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.

Carrier

--Standard & Poor’s Ratings Services raised its rating on Telephone & Data Systems to BBB- from BB+. The outlook is positive. The change comes after the company addressed material weaknesses previously cited in its financial documents related to staffing and accounting for plant, property and equipment. S&P noted the firm could be upgraded even further, to BBB, assuming continued favorable operating trends and conservative balance sheet. TDS owns most of U.S. Cellular.

Handset and infrastructure vendors

--Oppenheimer upgraded Nokia to outperform from perform and set a $40 price target on the company. The firm noted its checks reveal demand remains strong despite recent stock pressure the company has experienced due to worries about weakening demand.

Other

--Standard & Poor’s Ratings Services lowered its corporate credit rating on Comverse Technology Inc. to B+ from BB- and removed the company from CreditWatch. The outlook is negative. Comverse was placed on CreditWatch two years ago over concerns related to stock options grants.

  Email Article   |   Print Article   |   Permalink  |  More from: aa_Free (no reg or sub required) |

---

Post a Comment

Name (required)
Email (will not be published) (required)

[Post a comment to this article] [Hide]