AT&T iPhone Exclusivity Will Not Hurt Credit Rating -Moody's (ATT)
Moody's Investors Service raised its outlook on AT&T (NYSE: ATT), citing the telecommunications company's better performance of late and efforts to cut down its leverage the past couple of years.
Moody's Vice President and Senior Credit Officer Gerald Granovsky stated, “AT&T's ability to restore its leverage to levels consistent with it's A2 rating is a testament to the strength of the company's business model and the resiliency of its cash generating capability amid increasing competitive challenges.”
ATT common stock at last check was $25.90 down $0.08 per share.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.