Fitch rates Verizon notes A-

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

Verizon has completed an offer to exchange 19 series of notes for $4 billion of newly issued 4.016% senior unsecured notes.

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

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

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

© 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.