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Fitch downgrades Sprint Nextel deal

Fitch Ratings downgraded Wirefree Partners III, LLC PCS Spectrum Lease-Backed Notes, 2005-1 to BBB', from BBB+', after taking a similar action on the unsecured corporate rating of Sprint Nextel and its subsidiaries.

Sprint Nextel leases personal communications services (PCS) spectrum licenses to Sprint.Com and WirelessCo, L.P., two of its...

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