New York, October 27, 2015 -- Moody's Investors Service ("Moody's") assigned a Baa3 rating to T-Mobile USA, Inc.'s ("T-Mobile" or "the company") proposed $1 billion Term Loan B. T-Mobile intends to use the net proceeds from the offering for general corporate purposes, which may include acquisition of additional spectrum. Moody's expectation is that the percentage of secured debt in the capital structure will remain relatively modest over time. The company's commitment to manage the business in a manner that preserves the existing ratings on the unsecured notes supports this view. Moody's also affirmed T-Mobile's Ba3 corporate family rating ("CFR"), Ba3-PD probability of default rating, and Ba3 senior unsecured notes rating. The speculative grade liquidity rating remains SGL-1 and the outlook remains stable.
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