Fitch affirms Comcast

Fitch Ratings said it affirmed Comcast Corp.'s issuer default rating at BBB+, senior debt at BBB+, $6.8 billion revolving bank facility at BBB+, short-term issuer default rating at F2 and commercial paper at F2.

The agency also affirmed subsidiaries Comcast Cable Communications Holdings, Inc.'s issuer default rating and senior debt at BBB+ along with Comcast Holdings Corp.'s issuer default rating at BBB+, senior subordinated debentures at BBB and subordinated exchangeable notes at BBB-.

Also affirmed includes Comcast Cable Communications, LLC's issuer default rating, senior debt and $6.8 billion revolving bank facility at BBB+; Comcast Cable Holdings, LLC's issuer default rating and senior debt at BBB+; and Comcast MO Group, Inc.'s issuer default rating and senior debt at BBB+; and Comcast MO of Delaware, LLC's issuer default rating at BBB+.

The affirmations consider the successful closure of the company's pending joint venture transaction with General Electric Co., along with the higher debt levels and a modest increase in leverage associated with Comcast's $7.1 billion cash payment to GE in accordance with the terms of the joint venture transaction, Fitch said.

The agency said it continues to believe that Comcast's credit profile has ample capacity and flexibility to accommodate the incremental debt related to Comcast's cash requirements and maintain a credit profile consistent with a BBB+ rating.

© 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.