Fitch rates Comcast notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Comcast Corp.'s $900 million senior notes due 2018 and $600 million senior notes due 2037.

The outlook is stable.

The proceeds from the offering are expected to be used for general corporate purposes including reducing commercial paper balances. Comcast may also use a portion of the proceeds to purchase the 39.5% of E! Entertainment Television that it does not already own.

The agency reflect Comcast's strong competitive position as the largest multiple-system operator in the United States and Fitch's belief that the company will continue to generate solid operating metrics, sustainable EBITDA and free cash flow growth over Fitch's rating horizon.

The agency said it believes that the acquisition of cable systems from Adelphia and Time Warner Cable, Inc., which resulted in a net increase of approximately 1.7 million video subscribers, will further enhance Comcast's system clustering and drive additional economies of scale.

© 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.