Subject: [NEXTEL-1] Nextel says will look for ways to pare more debt

From: Marcel <[email-masked]>
Date: Thu, 13 Feb 2003 20:12:57 -0500

http://biz.yahoo.com/rc/030213/telecoms_nextel_debt_1.html

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Reuters

Nextel says will look for ways to pare more debt
Thursday February 13, 1:23 pm ET

PHILADELPHIA, Feb 13 (Reuters) - Nextel Communications Inc.
(NasdaqNM:NXTL - News), the wireless telephone company, said on Thursday it
would look for ways to pare its debt load further as it tries
to cut operating costs and interest expenses.

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"We will continue to look at the balance sheet and continue
to assess whether there's other opportunities to make continued
improvement in our credit profile (and) continue to reduce our
financial risk," Nextel's Treasurer Rich Lindahl said at a Legg
Mason telecommunications conference in New York.
As of Sept. 30, Nextel retired $2.6 billion in debt and
preferred securities, shaving its domestic long-term debt load
to $12.5 billion. That saved the company about $235 million a
year by avoiding interest and dividend payments.
Last month, Moody's Investors Service (News - Websites) raised its rating
outlook for Nextel to "stable" from "negative," citing the
company's debt-reduction and "remarkably stable operating and
financial performance of the company in the face of an
increasingly competitive wireless marketplace."
Reston, Virginia-based Nextel is expected to report its
fourth-quarter results on February 20.
Shares of Nextel shed 72 cents, or 5.6 percent, to $12.04
in afternoon trading on Nasdaq.

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