Moody's assigns TDS preferreds Ba3

Moody's Investors Service said it assigned a Ba3 rating to Telephone and Data Systems, Inc.'s planned cumulative redeemable perpetual preferred stock.

TDS will use the proceeds for general corporate purposes, including the funding of capital investments associated with the fiber-to-the-home program in new markets and the redemption of currently callable debt.

All other ratings, including the company's Ba1 corporate family rating, and stable outlook are unchanged, Moody’s said.

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