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S&P upgrades T-Mobile on 'strong' operating, financial results

S&P Global Ratings on Dec. 1 upgraded T-Mobile US Inc.'s corporate credit rating to BB+ from BB, citing "strong operating and financial results," which has helped the company reduce leverage and improve free operating cash flow generation.

The U.S. wireless carrier's senior unsecured debt rating was raised to BB+ from BB.

The outlook on the company is stable, reflecting S&P's expectation that despite competition from other wireless providers, T-Mobile is well-positioned to expand its customer base, increase EBITDA, and improve free operating cash flow generation through its differentiated service offering.

Following the terminated merger talks with Sprint Corp., the rating agency believes that there is less downside risk to the company's credit profile over the next 12 months.

T-Mobile on Oct. 23 posted third-quarter net income of $550.0 million, or 63 cents per share, up from net income of $366.0 million, or 42 cents per share, in the year-earlier period. Revenue for the third quarter jumped 7.7% year over year to $10.02 billion.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.