Fitch puts AT&T's IDR on negative watch

Fitch Ratings said it placed the A- long-term issuer default ratings and outstanding debt of AT&T Inc. and its subsidiaries on Rating Watch negative. The company's F2 short-term IDR and commercial paper rating are affirmed based on the expectation that a downgrade, if it occurs, will be limited to one notch.

Fitch said it affirmed the long-term IDRs of Time Warner Inc. and its subsidiaries at BBB+. The outlook remains stable.

Fitch said it believes AT&T's acquisition of Time Warner Inc. provides AT&T a strong foothold in the evolving communications and media landscape.

The negative watch for AT&T reflects the increase in leverage for AT&T, pro forma for the transaction, the agency said.

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