Fitch rates Comcast notes A-

Fitch Ratings said it assigned an A- rating to Comcast Corp.’s benchmark-sized senior unsecured notes due in February 2024 and 2027.

The proceeds from the offering are expected to be used for general corporate purposes, including the repayment of maturing debt and commercial paper, the agency said.

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 is stable.

Comcast's capital structure and financial strategy remains balanced between investing in its businesses, maintaining leverage at its target range of low 2x and returning capital to shareholders, Fitch said.

The agency said it believes Comcast's strong operating profile and solid free cash flow metrics afford the company a high degree of financial flexibility at the current rating category.

The ratings also consider Comcast's strong competitive position as one of the largest video, high-speed data and voice providers to residential and business customers in the United States and the company's compelling subscriber clustering profile with operations in 39 states and the District of Columbia, Fitch said.

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