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Fitch Downgrades Sprint Nextel's IDR to 'BB'; Outlook Negative

Debt ratings agency, Fitch has downgraded Sprint Nextel's Issuer Default Rating (IDR) to 'BB' with a negative outlook. Fitch says that Sprint Nextel's downgrade is reflective of the significant continued revenue declines primarily due to the high subscriber losses as well as the limited visibility over the timing and the extent of how overall operating trends might improve during 2009. In particular, the iDEN operations have continued a sharp deterioration of its operating metrics.  more

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