Moody’s assigns A2 to Disney bond

Moody's Investors Service said it assigned an A2 rating to Walt Disney Co.’s new bond offering.

The outlook is stable.

The new issuance will be of benchmark size and will include three tranches of three-year, five-year and 10-year maturities.

The new notes and debentures are expected to be pari passu with the company's existing senior unsecured debt.

Proceeds will be used for general corporate purposes.

Moody's anticipates that pro forma leverage (including agency adjustments) for the new debt issuance will be below 2 times Moody's adjusted leverage, therefore, the new bond issuance will not impact the company's A2 senior unsecured long term debt or the Prime-1 short-term debt rating.

Further, the agency expects that Disney will continue to maintain credit metrics consistent with its current debt ratings.

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