Ina Fried

Recent Posts by Ina Fried

Moody’s Downgrades Sprint’s Debt from Junk to Compost

Bond rating firm Moody’s on Thursday lowered its ratings on Sprint’s debt by one more notch, from Ba2 to Ba3. The move puts the company deeper into the non-investment grade, or “junk bond,” category. The firm also said its ratings outlook continues to be negative. “The downgrade reflects Moody’s view that Sprint’s credit profile, despite recent operational improvements, is likely to deteriorate as the company spends heavily to modernize its networks while attempting to formulate its long-run 4G strategy,” Moody’s said in a statement. “Moody’s believes that the ongoing dispute between Sprint and Clearwire has eroded the competitive advantage of both companies, while industry peers speed ahead.”

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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik