Moody's rates News America note Baa2

Moody's Investors Service said it assigned a Baa2 rating News America Inc.'s new $1 billion senior unsecured 30-year notes, which will be guaranteed by parent company News Corp.

The outlook is stable.

Proceeds are expected to be used for general corporate purposes.

The agency said the Baa2 rating is based upon the notes' senior unsecured priority, which will be substantially pari passu with the existing Baa2 senior unsecured obligations of News America.

News Corp.'s Baa2 long-term debt ratings continue to reflect the company's strong credit metrics, large cash balance and a continued expectation of share repurchases and opportunistic acquisitions, Moody's said.

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