A.T.&T.'s leasing unit to go public

Article Abstract:

AT and T will sell 15 percent of the AT and T Capital Corporation, the carrier's large equipment-leasing unit, in a public offering by 2nd qtr 1993. This will be the first such offering in ten years. AT and T Capital Corporation has over $1 billion in yearly revenue and $7 billion in assets. Analysts say that the company has a book value of $746 million as of Sep 30, 1992, with 15 percent of that adding up to approximately $112 million. The public offering is expected to increase AT and T's borrowing capacity and let AT and T Capital raise its own money. The Standard & Poor's Corporation expects to give the unit an A credit rating on its new debt. Analysts believe that AT and T Capital has about $4.6 billion in debt and $1.8 billion in 30-day borrowings at approximately 3 percent interest.

Electronic computers, Misc. business credit institutions, T, Securities, American Telephone and Telegraph Co., Public Offerings, Subsidiary Company, AT&T Capital Corp.

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F.C.C. acts to spur local competition in phone services

Article Abstract:

The Federal Communications Commission (FCC) is expanding competition in the local telephone service industry by allowing communications companies to expand their use of networks owned by Bell Regional companies and other local phone companies. The FCC hopes that consumers will one day choose local telephone companies as they choose long distance phone companies. The FCC allocated new frequencies for the next-generation of cellular telephones, posted rulings on long distance telephone rates and announced restrictions on automated telemarketing telephone solicitations. The local phone business sector is a $90 billion market that is not nearly as competitive as the $55 billion long distance business. More competition should help phone call prices drop as competition ensues.

Radiotelephone communications, Laws, regulations and rules, United States. Federal Communications Commission, Competition, Government Regulation, Local Communication

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