Fitch gives Verizon notes A+

Fitch Ratings said it assigned an A+ rating to Verizon Communications, Inc.'s proposed offering of senior unsecured notes, adding that the notes will be sold in five-, 10- and 30-year tranches.

Proceeds from the offering are expected to be used, in combination with cash on hand and the issuance of commercial paper, to fund the acquisition of wireless spectrum licenses by Verizon Wireless in the recently completed spectrum auction conducted by the Federal Communications Commission, the agency noted.

The outlook is stable.

The ratings incorporate Fitch's belief that Verizon is committed to maintaining leverage at 1.4 times or slightly lower, at the end of 2007, Verizon's debt-to-EBITDA was 1.04x.

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