AT&T Chairman and CEO Randall Stephenson says even the world's largest telecommunications company is feeling the effects of the global credit crunch.

Stephenson said Tuesday during a visit to North Carolina that AT&T was unable a week ago to sell any short-term debt — known as commercial paper — for longer than overnight. That kind of loan is usually readily available to top corporations good for the money.

The chief of the Dallas-based company said AT&T's access to credit markets is changing daily, but money isn't as available now as it was even three weeks ago.

The AT&T boss was in Goldsboro to celebrate a new call center for the company's broadband Internet service.