Fitch Withdraws Ratings of United Telephone Company of Ohio.CHICAGO -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has withdrawn the 'A-' rating assigned to the first mortgage bond of United Telephone of Ohio (UTOH), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Sprint Corporation. In addition, Fitch fitch: see polecat. has removed the rating from Rating Watch Negative where it was placed on Dec. 15, 2004. Fitch's action follows UTOH's repayment of the company's 6.5% first mortgage bonds due June 2005, which represented the last publicly held debt security outstanding. The remaining debt on UTOH's balance sheet is inter-company debt owed to Sprint Corporation. Fitch's rating definitions are available on the agency's public web site, www.fitchratings.com. Published ratings, criteria and methodologies and relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from this site, at all times. This document will remain on the public site for seven days. |
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