Moody’s assigns Ba1 to Qwest notes

Moody's Investors Service said it assigned a Ba1 rating to Qwest Corp.’s proposed offering of senior unsecured notes due 2056.

Proceeds, together with available cash, will be used to redeem all or a portion of the company’s $661.25 million notes due June 1, 2051, including accrued and unpaid interest.

Qwest anticipates using any remainder of these net proceeds for additional debt repayments or other general corporate purposes. Moody's assumes this transaction will result in modest interest savings and be approximately neutral to leverage.

The company's other ratings and stable outlook remain unchanged.

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