Fitch rates Verizon green notes A-

Fitch Ratings said it assigned an A- rating to Verizon Communications Inc.'s $1 billion senior unsecured notes due 2029.

The proceeds from the notes will be used in whole, or in part, to fund eligible green investments, including such categories as renewable energy, energy efficiency, green buildings, sustainable water management and biodiversity and conservation, Fitch said.

The company has a long-term issuer default rating of A- and a stable outlook.

The ratings are supported by Verizon Wireless's strong competitive position as evidenced through industry-low churn rates, high margins and the extensive coverage of about 98% of the U.S. population with its 4G LTE network, Fitch explained.

These factors are balanced against the intensely competitive wireless environment, as well as the moderately high leverage for the rating, the agency said.

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