However, it is premature and inappropriate for us to discuss this further.

The Moody's action was not totally unexpected given their stated view of the industry, ... It will have no practical effect on the conduct of our business. Even after the debt-rating cut, AT&T has a higher rating than its competitors ... AT&T is in a far better position than most of our competitors.

The Moody's action was not totally unexpected given their stated view of the industry. It will have no practical effect on the conduct of our business. Even after the debt-rating cut, AT&T has a higher rating than its competitors ... AT&T is in a far better position than most of our competitors.