Fitch rates Verizon note A+

Fitch Ratings said it assigned an A+ rating to Verizon Communication, Inc.'s proposed offering of $2 billion senior unsecured debt securities.

The outlook is stable.

Proceeds are expected to be used to reduce commercial paper and for general corporate purposes.

The agency said Verizon's rating reflects the significant scale and scope in its domestic wireline and wireless businesses, the continuation of the shift of revenues to wireless and wireline growth areas, prospects for stable operating performance and a conservative financial profile.

The principal concern regarding Verizon, according to Fitch, remains the effect of competition in the residential wireline market.

The debt-to-EBITDA was 1.3x at Dec. 31.

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