iBankCoin
Joined Nov 11, 2007
31,930 Blog Posts

S&P Cuts Softbank to Junk Status

SoftBank Corp. (9984), led by billionaire Masayoshi Son, had its credit rating cut to junk by Standard & Poor’s after winning approval from the Federal Communications Commission for its $21.6 billion bid to buy Sprint Nextel Corp. (S)

The rating was cut to BB+, the highest non-investment grade, from BBB, with a stable outlook, S&P said in a statement today. The FCC announced July 5 that the deal is in the public’s interest, giving Son a position in the U.S. market…..”

Full article

If you enjoy the content at iBankCoin, please follow us on Twitter