S&P rates AT&T notes A

Standard & Poor's said it assigned an A rating to AT&T Inc.'s proposed issuance of $4 billion to $6 billion of unsecured notes with varying maturities. The A corporate credit and A-1 commercial paper ratings remain unchanged.

The outlook is stable.

S&P said it expects the bulk of proceeds to be used to repay debt maturities and will not represent a permanent, material increase in total debt.

"The ratings reflect AT&T's strong position in the fast-growing wireless sector, the healthy overall financial performance of its wireline business and a modest financial profile," S&P analyst Richard Siderman said in a statement.

The financial profile includes strong net free cash flow generation and a debt-to-EBITDA ratio in the low-2x area, the agency said.

© 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.