Why AT&T and Verizon Are Selling Over $12.6 Billion of Assets [telecom]

Why AT&T and Verizon Communications Are Selling Over $12.6 Billion Worth of Assets

by Adam Levy

In case you missed it, Verizon Communications and AT&T owe the government nearly $29 billion.

Both companies spent heavily in the FCC's AWS-3 spectrum auction, acquiring valuable airwave licenses for their wireless businesses. With both companies heavily burdened with debt, they're both looking to raise funds without increasing their liabilities. After the AWS-3 auction results were announced, S&P downgraded AT&T's credit rating to a BBB+. Verizon's credit rating remained unaffected.

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