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SoftBank Cut to Junk by S&P After FCC Approves Sprint Deal

2013-07-08 09:34:51| IT Services - Topix.net

SoftBank Corp. , 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. The rating was cut to BB+, the highest non-investment grade, from BBB, with a stable outlook, S&P said in a statement today.

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