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Moody's assigns CenturyLink notes Ba2
Moody's Investors Service said it assigned a Ba2 (LGD5, 85%) rating to CenturyLink Inc.'s proposed offering of series W notes due 2023.
The company also announced a tender offer to purchase any and all of its outstanding Qwest Communications International Inc. notes due 2018, which expires on Dec. 12.
The proceeds from the notes offering, together with available cash or borrowings under CenturyLink's revolving credit facility, will be used to provide Qwest with the amount required to complete the tender offer and the redemption of any Qwest 2018 notes that remain outstanding after the consummation or termination of the tender offer.
The company's other ratings and stable outlook remain unchanged.
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