Subject: [NEXTEL-1] Standard & Poor's Ratings On Nextel

From: [email-masked]
Date: Mon, 10 May 2004 15:02:38 -0400

Standard & Poor's Ratings On Nextel

 NEW YORK, May 10 - Standard & Poor's Ratings Services said today that
the announcement by Reston, Va.-based wireless carrier Nextel
Communications Inc. (NasdaqNM:NXTL - News; BB+/Positive/--) that it
plans to redeem all of its outstanding 6% convertible senior notes due
2011 has no impact on the ratings or outlook on the company. About
$608 million in principal amount of these notes were outstanding at
March 31, 2004. The redemption date has been set for June 7, 2004.
Given Nextel Communication's good competitive position, ability to
generate significant free cash flow, and more than $2.7 billion of
cash and equivalents at the end of March 2004, the company could
retire these notes entirely with cash and not experience any
meaningful degradation in liquidity.

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