Moody's rates Comcast notes A3

Moody's Investors Service said it assigned an A3 rating to Comcast Corp.'s proposed notes due 2025 and 2034. The outlook is positive.

Proceeds will be used for general corporate purposes, including repayment of the company's $900 million 6.5% senior notes due January 2015 and $1 billion 3.65% senior notes due April 2015.

The agency said Comcast's ratings reflect its scale, diverse sources of cash flows and conservative balance sheet management.

The positive outlook reflects the potential for an upgrade to A2 based on expected improvement in the company's credit profile, the agency said. The positive outlook is supported by Moody’s view that cost-saving opportunities, potential for increased momentum for the commercial business and benefits from a scaled footprint following Time Warner Cable’s acquisition will facilitate EBITDA and free cash flow growth for the combined cable businesses.

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