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S&P puts AT&T ratings on review for downgrade
LONDON, April 24 (Reuters) - Credit rating agency Standard & Poor's Ratings on Thursday said it had placed AT&T Corp.'s BBB+ long-term corporate credit rating on CreditWatch with negative implications, citing weakness in the company's business segment.

At the same time, AT&T's (NYSE:T - News) A-2 short-term corporate credit and commercial paper ratings were affirmed and are not on CreditWatch.

"Business segment revenue growth has been affected during the past year by the soft economy and competitive pricing pressures," said S&P credit analyst Rosemarie Kalinowski in a statement.

S&P said it expects to meet with company management within the next few weeks and resolution of the CreditWatch will be focused on the rating agency's assessment of the long-term growth prospects for the business segment