Moody’s assigns CenturyLink notes Ba3

Moody’s Investors Service said it assigned a Ba3 to CenturyLink, Inc.’s proposed $840 million of senior unsecured notes due 2029, which will be issued by Level 3 Financing, Inc.

The proceeds along with cash on hand will be used to pay down the 5 5/8% senior notes due 2023 and the 5 1/8% senior notes due 2023 as well as for general corporate purposes.

All other ratings, including the company’s Ba3 corporate family rating and stable outlook are unchanged, Moody’s said.

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