Ratings Outlook for Verizon Improving, S&P Says
S&P Global Ratings upgraded Verizon’s ratings outlook to positive from stable based on debt reduction and improving metrics in its wireless business. The upgrade reflects Verizon’s “demonstrated commitment to debt reduction over the past several years, which was further accelerated…
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by the implementation of U.S. tax reform in early 2018, and improvements in wireless service revenue and total revenue trends,” S&P said Monday. But risks remain, S&P said: “Potential debt-financed acquisitions, spectrum purchases, and higher levels of capital spending on network upgrades to support growth in data and video consumption could constrain near-term leverage improvement.”