Moody’s assigns A3 to AT&T notes

Moody's Investors Service said it assigned A3 senior unsecured ratings to AT&T Inc.'s new $1,295,000,000 4.7% global notes due 2044.

Proceeds will be used for general corporate purposes.

All of AT&T's ratings remain on review for downgrade, including the newly assigned ratings and the existing A3 senior unsecured ratings.

On May 19 Moody's placed AT&T's A3 senior unsecured ratings on review for downgrade. The review was initiated following AT&T's announcement that it entered into a definitive agreement to purchase DirecTV in a cash and stock deal worth approximately $67 billion, including DirecTV’s net debt.

The review will assess AT&T's ability to integrate DirecTV’s operations while continuing to invest in its core wireline and wireless operations and restore its credit metrics. In particular, Moody's review will focus on AT&T's free cash flow profile and its future tax obligation and capital spending outlook.

© 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.