Moody’s rates Activision notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to Activision Blizzard Inc.'s proposed $1.2 billion bonds to be issued in five-, 10- and 30-year tranches. The outlook is stable.

Proceeds will be applied toward repaying $1.2 billion of term loan A debt due 2021.

The agency said Activision Blizzard's Baa2 rating reflects its leading position in the growing and fragmented gaming industry, strong diversification across multiple genres and gaming platforms, and strong track record of developing profitable and sustainable franchises with international appeal.

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