GTE Corp. and Affiliates' Rtgs Remain on S&PWatch, Neg.NEW YORK--(BUSINESS WIRE)--Standard & Poor's CreditWire 12/10/97--Standard & Poor's ratings on GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) Corp. and its affiliates (see list) remain on CreditWatch with negative implications as a result of GTE's open offer to acquire MCI Communications This article is about MCI before it merged with WorldCom. For other uses, see MCI. MCI Communications was an American telecommunications company that was instrumental in legal and regulatory changes that led to the breakup of the AT&T monopoly of American telephony and Corp. MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. has signed a definitive agreement to merge See mail merge and concatenate. with WorldCom The former name of MCI. Based in Jackson, MS, WorldCom, Inc. was a major, international telecommunications carrier. It was founded in 1983 by Bernard Ebbers as Long Distance Discount Service (LDDS), a reseller of AT&T WATS lines to small businesses. Inc., and Standard & Poor's expects that this merger will occur. However, the WorldCom/MCI merger requires numerous approvals, and will be effected through an exchange of stock. The approval process will take some time to complete, so there is some risk that WorldCom's stock price could decline to a level that would make GTE's offer attractive to MCI before WorldCom and MCI can close the merger. As a result, GTE and its affiliates' ratings will remain on CreditWatch until the closing of the WorldCom/MCI merger becomes more certain, or until GTE withdraws its bid. At that time, Standard & Poor's anticipates affirming GTE and its affiliates' ratings, removing them from CreditWatch, and assigning as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. a negative outlook to the ratings. The negative outlook reflects Standard & Poor's view of GTE's somewhat higher tolerance tolerance /tol·er·ance/ (tol´er-ans) 1. diminution of response to a stimulus after prolonged exposure. 2. the ability to endure unusually large doses of a poison or toxin. 3. drug t. 4. for financial risk as evidenced by its bid for MCI.---CreditWire -0- RATINGS REMAINING ON CREDITWATCH, NEGATIVE GTE Corp. Corporate credit rating A Commercial paper A-1 Senior unsecured debt A Preferred stock shelf (Preliminary) A Bank loan rating A GTE Finance Corp. Corporate credit rating A Senior unsecured debt A GTE Delaware, L.P. Corporate credit rating A Preferred stock A GTE California Inc. Corporate credit rating AA- Short-term rating A-1+ Senior secured debt AA- Senior unsecured debt AA- Preferred stock AA- Bank loan rating AA- GTE Florida Inc. Corporate credit rating A+ Short-term rating A-1 Senior secured debt A+ Senior unsecured debt A+ Preferred stock A+ Bank loan rating A+ GTE Funding Inc. Corporate credit rating A+ Commercial paper A-1 Bank loan rating A+ GTE Midwest Inc. Corporate credit rating AA- Short-term rating A-1+ Senior secured debt AA- Bank loan rating AA- GTE North Inc. Corporate credit rating AA- Short-term rating A-1+ Senior secured debt AA- Senior unsecured debt AA- Preferred stock AA- Bank loan rating AA- GTE Northwest Inc. Corporate credit rating AA- Short-term rating A-1+ Senior secured debt AA- Senior unsecured debt A+ Bank loan rating A+ GTE Southwest Inc. Corporate credit rating AA- Short-term rating A-1+ Senior secured debt AA- Senior unsecured debt AA- Preferred stock AA- Bank loan rating AA- GTE Hawaiian Telephone Co. Inc. Corporate credit rating A Senior secured debt A Senior unsecured debt A GTE South Inc. Corporate credit rating AA- Short-term rating A-1+ Senior secured debt AA- Senior unsecured debt AA- Preferred stock AA- Bank loan rating AA- CONTACT: Frank E Plumley Plumley is a village and civil parish in the Macclesfield district of Cheshire, England. In the village there is two public bars, The Golden Pheasant and The Smoker (which has won awards), a village hall, a methodist church, tennis courts, riding stables, a post office and a , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of (1) 212-208-1996 For more information on criteria criteria (krītēr´ē  ),n. or subscriptions: http://www.ratings.standardpoor.com |
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