Fitch assigns Verizon notes A

Fitch Ratings said it has assigned an A rating to the proposed offering of a total of $2 billion or more of two-year notes co-issued by Cellco Partnership, which does business as Verizon Wireless, and Verizon Wireless Capital LLC in a private placement.

Proceeds will be used to reduce the amount outstanding on the bridge facility used to complete the acquisition of Alltel Corp. on Jan. 9, the agency added.

The outlooks are stable.

According to Fitch, the rating is supported by Verizon Wireless' continued strong growth of revenue, EBITDA and free cash flow as well as its strong competitive position among the four national operators.

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