AT&T; Credit Outlook Reduced to ‘Negative’

AT&T; Corp., the largest U.S. long-distance telephone company, had the outlook on its credit rating cut to “negative” by Standard & Poor’s, which cited a drop in revenue from business customers.

S&P; reduced the outlook on $22.6 billion of AT&T; debt from “stable,” indicating the next move in the rating, though not imminent, would be lower.

AT&T; shares fell 26 cents to $19.38 on the NYSE.