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Moody's gives Qwest notes Ba3
Moody's Investors Service said it has assigned a Ba3 rating to Qwest Communications International Inc.'s proposed $300 million senior unsecured notes due 2015.
The agency said that Qwest intends to use the proceeds for general corporate purposes, including repayment of maturing debt.
In conjunction with the rating action, Moody's said it has affirmed the company's Ba2 corporate family rating with a stable outlook, along with the SGL-1 short-term liquidity assessment.
Moody's analyst Dennis Saputo said: "Qwest's Ba2 corporate family rating continues to be supported by the company's still sizable subscriber base, predictable cash generating capabilities, moderate leverage, and expectations for additional debt reduction."
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