Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers V > Headlines for Verizon Communications Inc. > News item |
S&P rates Verizon notes A
Standard & Poor's said it assigned an A rating to Verizon Communications Inc.'s $4 billion of senior notes, consisting of $750 million 4.35% notes due 2013, $1.5 billion 5½% notes due 2018 and $1.75 billion 6.4% notes due 2038.
The outlook is stable.
Proceeds will be used for general corporate purposes.
The agency said the ratings on Verizon reflect its wireless segment's rapid growth and strong business position and cash generation, sizable local exchange operations capable of producing substantial free cash flow and a modest financial risk profile.
Local telephone access-line losses totaled 8.1% in 2007, but S&P expects such losses to moderate over the next few years as Verizon introduces and grows its competitive video offerings to the markets most vulnerable to the cable companies' telephony offerings.
© 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.