Fitch assigns BBB+ to T-Mobile euro notes

Fitch Ratings said it assigned a BBB+ rating to T-Mobile USA, Inc.'s new multi-tranche senior unsecured euro notes issuance.

Fitch currently rates the long-term issuer default ratings (IDRs) for T-Mobile US, Inc., TMUSA and related entities at BBB+ with stable outlooks.

“This is an inaugural euro debt issuance for the company, and Fitch believes tapping international markets will provide T-Mobile another source of unsecured debt capital. Fitch expects the company will also put in place cross currency swaps to convert euro coupon and principal payments into USD, hedging foreign exchange risk over time,” Fitch said in a news release.

Net proceeds from the notes offering will be used for general corporate purposes, which may include share repurchases, dividends, debt refinancing or other business investments.

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