DBRS Discontinues Select ALLTEL Communications Inc. Debt Securities Following Repayment

DBRS has today discontinued select ratings of ALLTEL Communications Inc. (ACI), a wholly-owned subsidiary of ALLTEL Corporation (ALLTEL). ACI’s Issuer Rating has been withdrawn and its Senior Secured Credit Facility has been discontinued, as this debt has been repaid. Additionally, DBRS has withdrawn its Senior Unsecured Bridge/Notes rating as this debt is now exclusively owned by Cellco Partnership (dba Verizon Wireless).

This follows Cellco Partnership’s (dba Verizon Wireless) acquisition of ALLTEL which closed today as planned. The legacy debt at ALLTEL and ACI that remains outstanding following the close of the acquisition was upgraded to A (low) on January 8, 2009. (See separate press release for more details.)

Note:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Wireless which can be found on our website under Methodologies.

This is a Corporate rating.