Fitch: No change for Vodafone

Fitch Ratings said the announced acquisition by Vodafone Group plc's 45%-owned affiliate, Verizon Wireless, of the fifth-largest U.S. wireless carrier, Alltel Corp., will not by itself affect Vodafone's long-term issuer default rating and senior unsecured rating of A- and short-term issuer default rating of F2.

The outlook is stable.

The transaction will strengthen Verizon Wireless's business profile and give Vodafone more exposure to the U.S. market, where it expects to continue to see strong growth, Fitch said.

The benefits are offset, however, by reduced dividend expectations in the next three years, the agency said.

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