Fitch rates Comcast notes A-

Fitch Ratings said it assigned an A-rating to Comcast Corp.'s benchmark size, multi-tranche offering of senior unsecured notes. Proceeds are expected to be used for general corporate purposes.

The notes will be guaranteed by Comcast's subsidiaries included in the company's cross guaranty structure, namely Comcast Cable Communications, LLC and NBCUniversal Media, LLC. The outlook remains stable. As of Dec. 31, Comcast had about $102.9 billion of debt and preferred stock outstanding.

From Fitch's perspective the issuance will further strengthen Comcast's liquidity position, as Fitch believes the coronavirus pandemic will have a negative impact on Comcast's business, particularly its theme park and studio business. Comcast closed all of its theme parks and the disruption within its studio business stems from delayed production and distribution of theatrical content. In addition, Fitch expects advertising revenues will be affected by the cancellation or postponement of live events, including the Summer Olympics.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.