Moody’s rates Verizon notes Baa1

Moody's Investors Service said it assigned Baa1 ratings to Verizon Communications Inc.'s new senior unsecured euro notes due 2026, 2029 and 2038 and senior unsecured sterling notes due 2036.

Verizon intends to use the net proceeds for the purchase of notes that are validly tendered in the cash tender offers commenced by the company on Oct. 16. It will use any remaining net proceeds for general corporate purposes.

Moody’s said the Baa1 long-term debt rating reflects Verizon's significant scale, extensive assets, predictable cash flows and a strong market position, particularly in wireless.

“Verizon has consistently demonstrated the ability and discipline to invest in network infrastructure, which sustains its strong market position despite disruptive technology, shifting consumer demand and intense competition,” the agency said in a news release.

© 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.