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Moody's gives Baa2 to T-Mobile euro notes
Moody's Ratings said it assigned a Baa2 rating to T-Mobile USA, Inc.'s proposed backed senior unsecured euro notes, which will be comprised of various maturities.
T-Mobile intends to use the net proceeds from the proposed offering for general corporate purposes, which may include share repurchases, any dividends declared and refinancing of existing indebtedness.
In addition, Moody's affirmed T-Mobile's Baa2 backed senior unsecured notes ratings and backed senior unsecured revolving credit facility rating, and Prime-2 short-term backed commercial paper rating. Moody's also affirmed the Baa2 backed senior unsecured ratings assigned to Sprint Capital Corp. and Sprint LLC. The outlook for all three entities remains stable.
“The affirmation reflects T-Mobile's strong execution, solid credit profile and meaningful free cash flow generation,” Moody’s said in a news release.
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