Sprint Corporation -- Moody's rates Sprint's new notes

New York, September 04, 2013 -- Moody's Investors Service ("Moody's") assigned B1 ratings to Sprint Corporation's ("Sprint" or "the company") proposed offerings of Senior Unsecured Notes due 2021 and Senior Unsecured Notes due 2023. The proceeds will be used for general corporate purposes, which may include, among other things, redemptions or service requirements of outstanding debt, network expansion and modernization. Sprint Corporation is the parent company of Sprint Communications, Inc., f/k/a Sprint Nextel Corporation. Existing senior unsecured notes at Sprint Communications, Inc. and the proposed offering of senior unsecured notes at Sprint Corporation will rank pari passu through cross-guarantees. Moody's has also moved the Corporate Family Rating ("CFR"), Ba3, the Probability of Default Rating ("PDR"), Ba3-PD, and the Speculative Grade Liquidity ("SGL") Rating, SGL-1, from Sprint Communications, Inc. to Sprint Corporation, which is now the corporate family's ultimate parent.

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