Fitch rates Comcast notes A-

Fitch Ratings said it assigned an A- rating to Comcast Corp.'s benchmark-size senior unsecured notes maturing 2024 and 2044.

The proceeds are expected to be used for general corporate purposes, which may include the repayment of amounts outstanding under the company's commercial-paper program and a portion of NBCUniversal's $900 million principal amount of 2.1% notes due April 2014, Fitch said.

The notes will be guaranteed by Comcast's subsidiaries included in the company's cross-guaranty structure, the agency said.

The outlook is stable.

Comcast's pending merger with Time Warner Cable is strategically sound and creates significant opportunity to realize operating and capital spending efficiencies with minimal execution risk and enables the combined entity to effectively compete on a national scale for incremental commercial segment business, Fitch said.

Comcast's capital structure and financial strategy remains intact and centered on reducing leverage to its target of between 1.5x and 2.0x, the agency said.

The ratings reflect Comcast's strong competitive position as one of the largest video, high-speed Internet and phone providers to residential and business customers in the United States and the company's compelling subscriber clustering profile, Fitch said.

© 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.