Moody's rates AT&T notes A2

Moody's Investors Service said it assigned an A2 senior unsecured rating to AT&T Inc.'s new €1 billion 3.55% global notes due 2032.

All of AT&T's ratings remain on review for downgrade, including the rating assigned and the company's existing A2 senior unsecured ratings and Prime-1 rating for commercial paper.

The proceeds will be used for general corporate purposes.

On Nov. 8, Moody's placed AT&T's A2 senior unsecured ratings and Prime-1 rating for commercial paper on review for downgrade.

The review is prompted by the company's announcement that it will increase leverage to repurchase stock and step up capital spending.

Moody's said it review will consider the increase in the company's leverage against the offsetting positives that may derive from increased capital spending in the wireless and wireline businesses.

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