AT&T Graded Worst in Class: S&P Downgrades to A-

Ok, I?m an AT&T subscriber and I?ve got a grudge. AT&T never delivered on bandwidth, leaving most of those who bought in on the promise listless freaks unconnected to anything that resembles real time on the internet.

It came as little wonder that Consumer Reports’ annual review of cellular carriers found AT&T dead last in the pack with their overall satisfaction score falling to 60 from 66 a year ago – the only carrier to see such a substantial drop.

AT&T stated that through the third quarter it "continued to maintain a strong balance sheet, deliver strong cash flows and reduce debt." The company noted that in its fiscal year ended September 30 its debt levels were reduced by nearly $4 billion.

Well that?s nice, but the excuse used for poor service reveals that they just haven?t been spending on infrastructure though the company claims that equipment shortages and zoning issues have held up work in San Francisco.

Personally, I just don?t believe anything this company says any longer and it seems others in the financial community have been doing their homework, too.

In fact Standard & Poor?s Ratings Services downgraded AT&T by a full grade after a warning that it might do so this summer. S&P lowered AT&T?s ratings to A- from A leaving the companies bonds four levels above junk status. This will make it more expensive for the company to raise additional capital to upgrade their deteriorating network.

Ok, Looks like I?ll be looking for a new plan after this piece. Any recommendations?