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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..]
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To: transmission who wrote (297)6/2/1999 10:48:00 AM
From: SteveG  Read Replies (3) of 1860
 
<A> DJ Advanced Radio Telecom Rtgs Affirmed By S&P; Off Watch

NEW YORK (Dow Jones)--Standard & Poor's Wednesday affirmed its triple-C senior unsecured and triple-C-plus corporate credit ratings for Advanced Radio Telecom Corp.

The ratings were removed from CreditWatch, where they had been placed with negative implications June 12, 1998, due to concerns about the company's liquidity.

The outlook is stable.

The affirmation follows the announced commitment by strategic investors, led by Qwest Communications International Inc., to provide $251 million to the company for a 45% voting interest, S&P said.

Qwest plans to market Advanced Radio's services to its customers, in
conjunction with its 19% investment, and Advanced Radio will utilize Qwest's long-distance Internet protocol-based fiber facilities in providing services to its own target customer base, the rating agency said.

S&P said the announced investment commitment alleviates concerns about
Advanced Radio's near-term liquidity. However, it said, the company's
longer-term financial performance "will be largely determined by its ability to aggressively grow its broadband wireless communications business."

(END) DOW JONES NEWS 06-02-99
10:16 AM
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