Fitch rates Time Warner notes BBB

Fitch Ratings said it assigned a BBB rating to Time Warner Cable's benchmark size senior unsecured notes due 2013, 2018 and 2038.

The notes will be guaranteed by Time Warner Entertainment Co., LP and TW NY Cable Holding, Inc.

The outlook is stable.

Proceeds are expected to be used to fund part of the $10.9 billion special dividend payment to be paid before completion of Time Warner Cable's separation from its parent Time Warner, Inc.

Ratings reflect a strong competitive position, subscriber clustering profile and growing revenue diversity, the agency said.

Concerns include the company's ability to maintain its relative competitive position given the changing competitive and economic environment, growing retail revenue beyond its core service offering and expanding into the commercial services market, Fitch 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.