Standard & Poor's downgraded SoftBank Corp's debt rating by two notches to BB+, the highest of the "junk" grade, citing its higher offer to purchase U.S. wireless carrier Sprint Nextel Corp and its related plan to buy out a portion of Clearwire Corp. The U.S. Federal Communications Commission voted in favor of the SoftBank Sprint merger last week.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S fell by 0.42% or $-0.03/share to $7.16. In the past year, the shares have traded as low as $3.15 and as high as $7.50. On average, 68409696 shares of S exchange hands on a given day and today's volume is recorded at 36936636.
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