Fitch rates Verizon debt A-

Fitch Ratings said it assigned an A- rating to Verizon Communications Inc.'s proposed senior unsecured debt offering.

Verizon's issuer default rating is A- with a stable outlook.

Fitch said the February acquisition of the remaining Verizon Wireless stake pressures Verizon's near-term credit metrics, pushing pro forma leverage at closing to approximately 2.7x. With the close of the acquisition, Fitch expects Verizon to materially reduce debt over the next few years. EBITDA growth, combined with debt reductions is expected to reduce leverage to roughly 2x by the end of 2016. The agency believes this level is appropriate for an A- rating.

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