S&P gives BBB to T-Mobile USA euro notes

S&P said it assigned its BBB issue-level rating to T-Mobile USA Inc.'s proposed euro-denominated senior unsecured notes (amounts and maturities to be determined).

T-Mobile USA is a wholly owned subsidiary of T-Mobile US Inc.

The company intends to use the net proceeds from this offering for general corporate purposes, which may include share repurchases, dividends or refinancing existing debt.

S&P said the BBB issuer credit rating on T-Mobile is unaffected by the transaction because S&P already assumed it would undertake some level of debt-financed shareholder distributions that caused its S&P Global Ratings-adjusted debt to EBITDA to remain essentially flat, in the low- to mid-3x area, over the next couple of years.

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