Sprint Stock Upgrades, Bonds Look Good Too!

Sprint (NYSE: S), one of the lesser cell phone providers (against Verizon and AT&T, it's hard to be much but a lesser provider), has a surprisingly good bond issue. If you're game for a bit of risk then you've got an opportunity to make some great returns.

The Sprint bond, maturing in 2032, is a non-callable corporate bond with a coupon rate of 8.75 percent and a current yield of 8.929 percent with a Fitch Rating of BB.

Admittedly, that's pretty long term, and the risk is somewhat high on this due to Sprint's diminished status in the market against its competitors. But the nature of the market--cell phones and mobile gear--does lend it some support as mobile gear is least likely to take serious damage any time soon due to its business application. Numerous businesses rely on mobile tech, and thus, they'll have to fold first BEFORE damaging their cell phone provider's return capability. And moreover, Sprint stock was just upgraded (albeit by Goldman Sachs), so that may be another good sign in their favor.

There is risk, but also great reward potential, and at just under a hundred bucks a bond, it may be a good place to park some cash to make savings grow.