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Prospect News home > News index > List of issuers Q > Headlines for Qwest Communications International Inc. > News item |
S&P rates Qwest notes BBB-
Standard & Poor's said it assigned a BBB- issue-level and 1 recovery ratings to Qwest Corp.'s proposed $300 million of senior notes due 2016 to be issued under Rule 144A.
Qwest Communications International Inc.'s BB corporate credit rating was affirmed.
The outlook is stable.
Proceeds will be used for general corporate purposes, including repayment of debt and funding and refinancing investments in its telecommunications assets.
"Despite a secular decline in Qwest's core wireline business, we expect cash from operations, coupled with the current dividend and limited share repurchase, to enable the company to maintain adjusted leverage near the 4x level," S&P analyst Richard Siderman said in a statement.
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