2 more steps and AT&T enters junk bond arena. With way too much debt and customers leaving in droves, countering with layoffs are only the beginning. The CEO, a glorified bookkeeper, is slowly burying the company, yet the board doesn't seem to notice. This once great company is being swallowed whole by poor business decisions and it's now to the point of no return.
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AT&T was cut by Moody to BAA2 June 2018 after AT&T acquired Time Warner. So, a year later - no change, and, no news.
I don't think the sky is falling, yet. Here's why.
https://www.fiercetelecom.com/telecom/at-t-s-donovan-says-telco-will-take-a-more-incremental-approach-to-fiber-builds
The required fiber build out has completed, and future buildouts are going to be constrained and more focused on return on investment. What they're not spending on capex can be applied to debt.
Donovan said the end of several big investment cycles, the FirstNet build and its use of software-defined networking bode well for AT&T's short, medium and long-term capex.
news is directtv might be spun off to dishtv
A 500 credit rating is c-ap, not just for a company the size of AT&T, but all the way around.