BREW-partner Verizon is the subject of a profile in this week’s Business Week.
To upgrade its wireless network and deliver promising new data services, Verizon may need to tap the capital markets, and a downgrade would make it more costly. “That’s problematic anytime, but it’s especially troublesome for a phone company facing declining revenue growth,” says S&P’s Rosenbluth. In a statement, Verizon expressed confidence that its rating would remain unchanged. “We feel that any review of our company will bear out that we are better positioned to take advantage of changes in the industry than any other telecom company,” said Doreen Toben, Verizon executive vice-president and CFO.