Moody's rates Liberty Interactive exchangeables B2

Moody's Investors Service said it assigned a B2 rating to Liberty Interactive LLC's proposed offering of $350 million exchangeable debentures due 2043.

All other ratings, including Liberty Interactive's Ba3 corporate family rating and stable outlook, are unaffected.

Moody's said the B2 rating assigned to the notes reflects that they are a senior unsecured obligation of Liberty Interactive, ranking pari-passu with other senior unsecured debt of Liberty Interactive, and that the notes are structurally junior to a significant amount of debt issued by Liberty Interactive's wholly owned subsidiary QVC, Inc., which comprises the significant majority of revenues and earnings on a consolidated basis.

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