New York, November 23, 2015 -- Sprint Corporation ("Sprint" or "the company") recently announced it signed a deal with newly formed Mobile Leasing Solutions, LLC ("MLS") for the sale and lease-back of certain leased devices. Under the first tranche of the agreement, Sprint will sell $1.3 billion of leased devices to MLS and receive $1.1 billion in cash proceeds and $100 million of deferred consideration. The transaction is expected to close in the first week of December. Moody's views the establishment of this sale/leaseback mechanism as credit positive and it has the potential to be a catalyst for a stabilization of the ratings outlook if it provides a reliable, cost effective and material source of future liquidity. For further information please see the issuer comment posted to www.moodys.com.

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