S&P Says T-Mobile's Fiber Venture is Credit Positive
S&P Global Ratings rated as credit positive T-Mobile’s planned $4.9 billion investment in a joint venture with private-equity firm KKR to buy fiber provider Metronet (see 2407240020). “We view the proposed JV favorably because it will allow T-Mobile to expand…
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its presence in the growing fiber broadband market in a capital-efficient manner, given that fiber deployments are very expensive and typically cost about $1,200 per passing,” S&P said. The report noted that T-Mobile previously launched a partnership with private equity firm EQT as part of a proposed acquisition of fiber-to-the-home provider Lumos (see 2404250047). “In aggregate, we expect these JVs will provide T-Mobile with access to over 10 million households over the next several years, which will complement its fixed wireless access (FWA) footprint and enable it to bundle in-home broadband service with its mobility product.”