S&P: Clearwire unaffected

Standard & Poor's said its ratings and outlook on Clearwire Corp. are not immediately affected by the announcement that Softbank Corp. has an agreement to purchase a 70% stake in Sprint Nextel Corp. for around $20 billion.

Sprint Nextel owns approximately 49% of Clearwire.

The agency said it currently expect Clearwire to run out of cash by mid-2013. While S&P said it does not believe that Sprint Nextel or Softbank will make a decision on their plans, if any, for Clearwire until the transaction closes, the agency believes Clearwire's large spectrum position in frequencies similar to that of Softbank's will have some potential value for Softbank in equipment and technology development.

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