Cricket Communications, Inc. -- Moody's withdraws Leap's ratings; upgrades Cricket's senior unsecured notes to A3

New York, March 14, 2014 -- Moody's Investors Service has withdrawn all ratings of Leap Wireless International, Inc. ("Leap" or "the company") including its B3 Corporate Family Rating (see listing, below) following the completion of the acquisition of Leap by AT&T, Inc. ("AT&T") on March 14, 2014. As part of the rating action, Moody's has also upgraded the ratings on the $1.6 billion 7.75% senior unsecured notes due 2020 issued by Cricket Communications, Inc. ("Cricket"), a wholly owned subsidiary of Leap, to A3 from Caa1 to reflect the unconditional and irrevocable guarantee provided by AT&T.

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