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S&P: Time Warner notes BBB
S&P said it assigned a BBB rating to Time Warner Inc.'s proposed senior unsecured debt securities due 2026.
The company plans to offer a benchmark-sized bond with a 10-year maturity and it plans to use the proceeds for general corporate purposes.
The BBB long-term and A-2 short-term corporate credit ratings on Time Warner are unchanged, the agency said.
The ratings reflect the company's strong market position in both the cable network and the film- and TV-entertainment sectors, S&P said.
The ratings also consider an expectation that the company’s management will keep its debt-to-EBITDA ratio at less than 3.25x debt, the agency added.
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