Fitch rates Level 3 notes BB

Fitch Ratings said it assigned a BB/RR2 rating to Level 3 Financing, Inc.’s offering of $1 billion of senior unsecured notes due 2028. Level 3 Financing is an indirect wholly owned subsidiary of CenturyLink, Inc.

Proceeds and cash on hand, are expected to be used for general corporate purposes, including the redemption of all $840 million of Level 3 Financing’s 5 3/8% senior unsecured notes due 2022 and $160 million of the 5 5/8% senior unsecured notes due 2023, both at par.

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