Moody's assigns AT&T notes A3

Moody's Investors Service said it assigned A3 ratings to AT&T Inc.'s new $2.5 billion note offering that consists of $1.1 billion 2.3% global notes due 2019, $1 billion 3.9% global notes due 2024 and $400 million floating-rate global notes due 2019.

Proceeds will be used for general corporate purposes, including the funding of pending spectrum and wireless acquisitions.

Moody's said AT&T's underlying A3 senior unsecured rating reflects its scale and its resilient and well-diversified operating cash flow. The rating is also supported by AT&T's dominant position as the No. 1 or No. 2 operator in nearly all of the key segments in which it competes, the agency said.

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