Sprint Corp. (NYSE: FON) and Nextel Communications Inc. (Nasdaq: NXTL) were placed on positive CreditWatch -- the agency's designation for when material events occur -- thanks to improved performance at Sprint’s PCS wireless unit, and Nextel’s solid third quarter and clarity on capital spending plans for spectrum and technology issues.

BellSouth Corp. (NYSE: BLS), SBC Communications Inc. (NYSE: SBC), and Verizon Communications Inc. (NYSE: VZ), and their wireless units, had their negative CreditWatch listings resolved when the long-term ratings on BellSouth and SBC, along with jointly-owned Cingular Wireless, were lowered to 'A' from 'A+'.

Corporate credit ratings for Verizon and Verizon Wireless were affirmed at 'A+'.

The corporate credit rating on AT&T Wireless Services Inc. (NYSE: AWE) was raised to A/Negative/A-1 on Oct. 26, following completion of its merger with Cingular.

The outlook on Charter Communications (Nasdaq: CHTR) was revised to negative from positive after the company indicated a higher-than-expected subscriber loss.

While the ratings of cable operator Insight Midwest L.P. were affirmed on Sept. 2 (albeit with a negative outlook), Standard & Poor's lowered the rating on the company's nearly $2 billion secured bank loan package to 'BB' from 'BB+'.

DTH pressure also factored into the downgrade of ratings on Mediacom Communications Corp. (the corporate credit rating was lowered to 'BB-' from 'BB'). The downgrade was attributed to a 4.4 percent year-over-year loss of basic subscribers -- a significant acceleration from the 1.4 percent loss a year earlier. Other factors contributing to the downgrade include the less lucrative demographics of Mediacom's smaller markets, as well as the potential of increased competition from telephone companies.