Fitch rates Verizon notes A

Fitch Ratings said it assigned an A rating to Verizon Communications, Inc.'s $6.25 billion offering of three-, five-, 10-, and 30-year senior unsecured notes.

The proceeds will be used for the repayment of commercial paper, repayment of operating company subsidiary debt maturing on or before April 1, 2012 and for general corporate purposes, Fitch said.

The outlook is stable.

The ratings reflect the significant scale and scope of the company's domestic wireline and wireless businesses, the agency said, along with the high proportion of revenues from wireless and wireline growth areas.

Concerns include the ongoing competitive pressures in the residential wireline market from wireless substitution and cable telephony competition, Fitch said, and the effect of the slow economic recovery on revenues from business and residential customers.

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