Verizon Response to S&P

Verizon Communications issued an immediate response to Standard & Poor's ratings announcement:



"Despite the general industry issues cited by S&P, we do not believe this watch is warranted given our strong business results and progress with debt reduction. We have confidence in our business model, which continues to generate healthy cash flows, including $6.4 billion in free cash flow last year. We have already reduced total debt by more than $18 billion over the past two years," said Doreen Toben, Verizon CFO. http://www.verizon.com