| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for Embarq Corp. > News item |
Fitch affirms CenturyTel, Embarq
Fitch Ratings said it affirmed the long-term issuer default ratings, bank facilities and senior unsecured debt of CenturyTel, Inc. and Embarq Corp. at BBB- and the short-term issuer default and commercial paper ratings of CenturyTel at F3.
Also affirmed were Carolina Telephone & Telegraph's BBB- issuer default rating and debentures and Embarq - Florida, Inc.'s BBB- issuer default rating and BBB first mortgage bonds.
The outlook is stable.
The affirmation reflects the anticipated close of CenturyTel's acquisition of Embarq on Wednesday following the receipt of all regulatory approvals. The company will operate under the name CenturyLink.
The agency believes that CenturyTel's credit protection metrics over a two-year rating horizon will remain investment grade and will be supported by synergies expected to be realized over the next three years as the company integrates Embarq into its operations.
Fitch estimates that the pro forma debt-to-EBITDA ratio was 2.1 times for the last 12 months ended March 31.
© 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.