Moody's rates Viacom notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to Viacom Inc.'s new $850 million senior unsecured notes due 2014 and 2019.

The company's ratings are under review for possible upgrade.

The proceeds of the notes will be used to fund a tender offer for the company's $1.5 billion 5¾% senior notes due 2011.

The agency said the new debt offering and cash tender will not impact the company's debt ratings because the transaction is essentially leverage-neutral. It does, however, reflect Viacom's disciplined approach to managing its debt maturity profile in a timely manner, Moody's added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.