AT&T and Verizon Communications face billions of dollars in unfunded pension liabilities, which could significantly weigh on their bottom lines, according to one Wall Street analyst.
If the market closed today, AT&T could be on the hook for $41.6 billion in unfunded pension liabilities, while Verizon could see $31.6 billion in liabilities, Sanford C. Bernstein analyst Craig Moffett said in a research note issued today. Moffett downgraded AT&T's stock rating and maintained his already low rating on Verizon.
The pension liabilities could be costly to the companies and shareholders. Moffett estimates … Read more