Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Time Warner Inc. > News item |
S&P rates Time Warner notes BBB
Standard & Poor's said it assigned a BBB rating to the proposed issues of five-year, 101/2-year and 30-year debt by Time Warner Inc.
Proceeds will be used to fund a tender offer for notes maturing in 2011, 2012 and 2013, and for general corporate purposes.
The long-term corporate credit rating is BBB.
The outlook is stable.
S&P said the rating reflects the company's commitment to ongoing lower leverage and its leading positions in cable TV networks and filmed entertainment, notwithstanding continuing weakness in its publishing business.
The agency said the deal is leverage-neutral and that the company will continue to maintain its fully adjusted gross debt-to-EBITDA ratio at less than the threshold of 3.5x for the BBB rating.
© 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.