Fitch rates U.S. Cellular notes BBB

Fitch Ratings said it assigned a BBB rating to United States Cellular Corp.'s proposed notes.

U.S. Cellular intends to use net proceeds from the offering to repay a portion or all of the outstanding debt under its $330 million of 7.5% senior notes due 2034

The outlook is stable.

The ratings on U.S. Cellular reflect the consolidated ratings at Telephone and Data Systems, Inc., the agency said. The key longer-term rating drivers for Telephone and Data are maintaining a solid financial profile, sustainable revenue growth within its company's wireless operations and improvement in profitability.

The company's solid financial profile affords the company added flexibility at its current rating to offset further operational erosion, the agency added.

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