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TECHNOLOGY | TECH BRIEFS

AT&T Credit Rating Review

April 03, 2001|Bloomberg News

AT&T Corp., whose debt soared 81% to $65 billion last year, said its credit ratings may be downgraded again by Standard & Poor's Corp. and Moody's Investors Service Inc. AT&T's long-term debt is rated A2 by Moody's and A by S&P. The short-term and long-term ratings are under review, the company said in a Securities and Exchange Commission filing. In November, Moody's and S&P's cut AT&T's credit ratings because of higher debt and lower long-distance calling prices. An AT&T spokeswoman declined to comment. AT&T had $46 billion in debt in January. The company needs to reduce that by $20 billion to keep its current ratings. Shares fell 22 cents to close at $21.08 on the New York Stock Exchange.

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