Moody’s rates Verizon notes Baa1

Moody’s Investors Service said it has assigned a Baa1 rating to Verizon Communications Inc.'s new sterling-denominated senior unsecured notes due 2024.

Verizon is offering to exchange up to all of Cellco Partnership's and Verizon Wireless Capital LLC’s £600 million face value of outstanding notes due Dec. 18, 2018 for the newly issued debt and an amount of cash.

According to the agency, Verizon's Baa1 long-term debt rating reflects its significant scale of operations, the diversity of its revenue mix and a strong market position across all business segments, particularly wireless.

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