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Moody's ups Centaur preferreds
Moody's Investors Service said it upgraded Centaur Funding Corp.'s series B and series C preference shares to Baa2 from Baa3.
Centaur is a special-purpose company owned by Comcast Corp. (Baa1 senior rating), that was created in 1998 for the purpose of monetizing preferred stock interests in Vodafone Americas Inc. (formally known as Airtouch Communications, Inc.).
Vodafone Americas Inc. is part of parent company Vodafone Group plc (A3 senior rating), and the ratings of the Centaur series B and C preferreds are linked to the preferred stock credit rating of Vodafone Americas Inc., which was upgraded to Baa2 from Baa3.
Vodafone Group plc's senior rating was revised to A3 from Baa1 following the announcement that it will receive a £2.8 billion dividend from Verizon Wireless in January 2012.
The outlook is stable.
The rating action had no impact on Comcast Corp.'s other rated securities, according to the agency.
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