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Moody's assigns Ba1 to CenturyLink's notes
Moody's Investors Service said it assigned a Ba1 to CenturyLink, Inc.'s (CenturyLink) proposed senior secured notes which will be sold by Level 3 Financing, Inc., a direct, wholly owned subsidiary of Level 3 Parent, LLC.
Proceeds are expected to be used to repay a portion of the $4.611 billion senior secured tranche B 2024 term loans under Level 3’s existing senior secured credit facility.
The Ba1 rating is in line with the rating for Level 3's senior secured credit facility which ranks pari passu with the secured notes, the agency said.
All other ratings including the company's Ba3 corporate family rating and stable outlook are unchanged, Moody’s said.
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