AT&T Responds to S&P Rating Action

Standard & Poor's placed AT&T's "BBB+" long-term corporate credit on CreditWatch with negative implications, however it affirmed AT&T's short-term corporate credit and commercial paper ratings at A-2. In response, AT&T said it continues to take market share while growing key areas of its business during difficult times for the telecom industry. AT&T believes it has "one of the strongest balance sheets in the telecom industry, with net debt of $12 billion, net of $4.9 billion in cash."http://www.att.com