S&P Highlights Risks for Virgin Mobile
This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-11-22
S&P assigned a 'B-' rating to the Warren, N.J.-based company's corporate credit and a 'CCC' rating to its bank loans. Both ratings are non-investment grade designations.
Despite strong brand recognition and nationwide coverage, S&P analyst Naveen Sarma stressed that the company is "constrained by a high degree of risk in a prepaid wireless phone business with little room for execution missteps."
Shares of Virgin Mobile USA Inc. fell 39 cents, or 4.3 percent, to $8.61 in midday trading.
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