S&P downgrades Clearwire (Nasdaq: CLWR) to 'highly speculative' territory

Either Clearwire (Nasdaq: CLWR) is playing a very dangerous game of chicken with major investors Sprint (NYSE: S), Time Warner Cable (NYSE: TWC-WI) and Comcast (Nasdaq: CMCSA)--all of whom to some degree need the company as a 4G provider--or it's seriously going to run out of money in the middle of next year.

Standard & Poor's Ratings seems to think it's the latter and has downgraded the company to "highly speculative territory" and questioned its ability to continue as a going concern. None of Clearwire's partners, all of whom have tossed billions into the venture, have stepped forward and said they'd spend one dime more.

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