Moody's: Walt Disney bond A2

Moody's Investors Service said it assigned an A2 rating to the Walt Disney Co.'s new bond issuance.

The new bonds will be of benchmark size and will include two tranches of five-year and 10-year bonds.

It is anticipated that they will be pari passu with the company's existing senior unsecured debt.

The proceeds will be used for general corporate purposes, as well as repayment of the company's commercial paper borrowings.

The offering will further push out the company's debt maturities and will not affect the company's long term-debt ratings as the transaction is not expected to have a material impact on the company's strong credit metrics, the agency said.

The company will continue to manage share repurchases and acquisitions to maintain its credit metrics within the bounds of the A2 rating category, Moody's said.

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