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Moody's rates Paramount Global note Baa3
Moody's Investors Service said it rated Paramount Global's planned benchmark junior subordinated notes offering Baa3(hyb).
“The proposed notes are rated one notch lower than the company's Baa2 senior unsecured debt ratings due to its junior ranking in the capital structure,” the agency said in a press release.
Paramount will use the proceeds to retire debt and for general corporate purposes, which should deliver “modest deleveraging,” Moody’s said.
The outlook remains stable.
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