Fitch: AT&T on negative watch

Fitch Ratings said it maintained a Rating Watch negative on the A- long-term issuer default ratings and senior unsecured debt of AT&T Inc. and its subsidiaries.

Fitch also said it affirmed the company's short-term issuer default rating and commercial-paper ratings at F2.

The ratings on negative watch are due to the pending Time Warner Inc. acquisition, announced in October 2016, the agency said, and the outcome of an anti-trust trial currently underway.

Fitch said it believes the acquisition provides AT&T with a strong foothold in the evolving communications and media landscape.

The negative watch reflects the increase in leverage for AT&T due to the transaction, the agency explained.

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