Moody's puts Brightstar's ratings on review for upgrade on Softbank investment announcement

New York, October 18, 2013 -- Moody's Investors Service ("Moody's") has placed the ratings of Brightstar Corporation ("Brightstar " or "the Company"), including its Ba3 Corporate Family Rating ("CFR"), on review for upgrade following today's announcement that the Company has entered into a series of definitive agreements with SOFTBANK CORP. ("SoftBank") that stand to improve Brightstar's credit profile. SoftBank will acquire 57% ownership in Brightstar for roughly $1.3 billion, with warrants to increase its ownership stake to 70%. In addition, Softbank intends to guarantee Brightstar's rated debt, and will augment the company's cash balances. Moody's expects Brightstar to become the preferred mobile supply chain vendor for Softbank's Sprint Communications (Ba2 stable) subsidiary in the US, with potential to pick up more distribution and value-added supply chain services from Softbank's portfolio companies and other telecom operators around the world.

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