Sprint Nextel's credit rating reduced to 'junk'

Dec 11, 2008 12:52 PM, By Donny Jackson

Sprint Nextel yesterday saw its debt rating from Moody’s Investors reduced to “junk” status, adding another difficulty to the wireless carrier’s attempt to reverse its fortunes, which has seen the company lose millions of subscribers during the last couple of years, most of which have stopped using the iDEN push-to-talk network.

For public-safety agencies, iDEN traditionally has been a popular vehicle for non-mission-critical communications, but Sprint Nextel is facing unprecedented competition in this arena. Meanwhile, the global economic downturn and the strength of nationwide rivals such as AT&T Mobility and Verizon Wirel...
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Just like the title of that old John Cafferty and the Beaver Brown Band song.

Now is the best time to buy, from a consumer point of view, because they will be more than willing to work with folks in order to sell.