Standard & Poor’s lowered the credit ratings for AT&T and Verizon Communications on Monday, saying that increased competition will make it harder for the two largest phone companies to pay down their long-term debt.

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S&P Cuts Credit Ratings for AT&T and Verizon originally appeared on DailyFinance on Mon, 06 Dec 2010 19:00:00.

Filed Under: Company News, Earnings, AT&T, Verizon, Credit