Fitch affirms CenturyLink

Fitch Ratings said it affirmed CenturyLink, Inc.'s issuer default rating at BBB-, $1.7 million senior revolving credit facility at BBB-, senior debt at BBB-, short-term issuer default rating at F3 and commercial paper at F3.

The outlook remains stable.

The affirmation follows the announcement by CenturyLink and Savvis, Inc. of a definitive agreement whereby CenturyLink will acquire Savvis in a cash and stock transaction valued at about $3.2 billion, including around $700 million of net debt, the agency said.

The affirmation is based on the expectations that the transaction will modestly accelerate the previously expected very gradual improvement in CenturyLink's revenue profile, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.