Moody's assigns Ba1 to BT notes

Moody's Ratings said it assigned a Ba1 backed long-term rating to the planned subordinated euro-denominated capital securities due 2054 to be issued by British Telecommunications plc, a subsidiary of BT Group plc, under its euro medium-term note program. BT will guarantee the notes.

"The Ba1 rating assigned to the hybrid debt is two notches below BT's issuer and senior unsecured ratings of Baa2. This reflects the instruments' deeply subordinated position in relation to the existing unsecured obligations in the company's capital structure," said Luigi Bucci, a Moody's AVP, analyst and lead analyst for BT, in a press release.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.