S&P gives Verizon notes A

Standard & Poor's said it assigned its A rating to Cellco Partnership LLC's proposed offering of up to $4 billion of fixed- and floating-rate senior notes due 2011.

Proceeds will be used to repay a portion of existing Alltel bridge loan facilities, the agency said, adding that the corporate credit rating on majority parent Verizon Communications Inc. remains an A with a negative outlook.

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