Moody’s rates NTT notes A1

Moody’s Investors Service said it rated NTT Finance Corp.’s three tranche offering of senior unsecured notes totaling $1.5 billion A1.

NTT plans to sell $500 million of notes due 2024, $500 million of notes 2025 and $500 million of notes 2027.

“NTT Finance is a wholly owned consolidated subsidiary of Nippon Telegraph & Telephone Corp. (NTT, A1 stable, a2 baseline credit assessment). NTT Finance's A1 issuer rating reflects the exceptional integration with its parent's operations and the integral finance functions it plays. A wholly-owned subsidiary of NTT, NTT Finance exists solely to serve as the finance and treasury division for its parent and has no material stand-alone external business, which is different from a typical captive finance company that provides sales financing to third parties,” Moody’s said in a press release.

The outlook is stable.

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