MUMBAI (Thomson Financial) - Moody's Investors Service placed the 'Baa3'
long-term debt ratings of Telephone and Data Systems Inc. (TDS) and United
States Cellular Corp., TDS' 82 percent-owned subsidiary, on review for possible
upgrade.
The agency said the action is based on the companies' relatively strong
operational and financial performance and the significant progress made in
remediation of ineffective financial reporting controls and procedures.
The review will focus on the likelihood that accounting improvements will be
sustained and that the final material weakness relating to financial reporting
for income taxes will be remediated without any further delayed filings or
restatements.
TFN.newsdesk@thomson.com
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