Telephone & Data,US Cellular Unit File 1Q Reports With SEC"

WASHINGTON -(Dow Jones)- Telephone & Data Systems Inc. and its U.S. Cellular Corp. unit Friday filed their much-anticipated quarterly reports for the first quarter ended March 31.

The delayed filings have resulted in noncompliance under certain debt indentures, but the company also said it received extended waivers from lenders under credit agreements and from counterparties under certain forward contracts based on its filing by certain dates.

The telecommunications company and U.S. Cellular decided late last year to amend their 2004 reports, including quarterly information for 2003 and 2004, as well as selected data for 2000 and 2001.

They also decided to restate financial statements and information in their reports for the first and second quarters of 2005.

The amendments and the restatements caused the companies to delay their first-quarter report as well as some other required reports with the SEC, which have since been filed.

According to a press release Friday, Telephone & Data Systems received an extension to file its second-quarter report by Nov. 14, when it would regain compliance with American Stock Exchange listing standards.

Telephone & Data Systems said in the press release that it expects to file its third-quarter report on time.

-By Chad Clinton, Dow Jones Newswires; 202-862-1349; chad.clinton@dowjones.com

(END) Dow Jones Newswires"

Posted to the site on 25th August 2006