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Betcha that $2.1Billion they sunk into Net2Phone is looking pretty smart, now…

AT&T is now two notches above JUNK status, but that position is contingent upon their success at selling AT&T Broadband to Comcast. If they mess that up, or if the FCC or FTC doesn’t allow the deal to go through, they’ll be down in the dumps with Worldcom and Qwest. The value of that deal has been slipping with AT&T’s fortunes: Originally $72 Billion in December, now it’s about half that amount.