Moody's gives AT&T notes A3

Moody's Investors Service said it assigned A3 senior unsecured ratings to AT&T Inc.'s new $1.6 billion 2.375% global notes due 2018 and $400 million floating-rate notes due 2018.

The proceeds will be used for general corporate purposes, including the funding of a tender offer for existing debt.

Moody's said AT&T's underlying A3 senior unsecured rating reflects its scale and its strong, resilient and well-diversified cash flows. The rating is also supported by AT&T's dominant position as the #1 or #2 operator in nearly all of the key segments in which it operates.

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