Moody's lifts Verizon view to positive

Moody's Investors Service said it changed Verizon Communications Inc.'s outlook to positive from stable.

The agency also said it affirmed the company's Baa1 issuer and senior unsecured ratings along with its prime-2 rating for commercial paper.

Moody's also said it affirmed the Baa2 unsecured rating of Verizon subsidiary, GTE Corp., and changed its outlook to positive.

The outlook revision reflects an expectation that sustained free cash flow generation and Verizon's track record and strong stated commitment to continue debt reduction, the agency said.

This is expected to improve its credit quality and enable it to fund the rollout of its 5G network, Moody's said.

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