Two credit rating agencies today put Sprint Nextel on their list of companies whose credit could be downgraded soon.
At midday, Sprint’s stock was down 61 cents, 7.5 percent, to $7.48 a share.
Moody's Investors Service affirmed Sprint Nextel's investment-grade rating but said it might downgrade the wireless carrier in the next 18 months.
Moody's said it affirmed the "Baa3" rating because Sprint was able to generate "significant" cash flow "from its valuable wireless and wireline assets."
