New York, March 10, 2014 -- Moody's Investors Service ("Moody's") assigned Baa1 ratings to Verizon Communications Inc.'s ("Verizon" or "the company") proposed offerings of senior unsecured floating rate notes and senior unsecured notes. Verizon intends to use the net proceeds from the sale of the notes for the purchase of notes that are validly tendered in connection with the tender offers commenced by Verizon on March 10, 2014, for the Cellco Partnership and Verizon Wireless Capital LLC 8.50% notes due 2018, Verizon Communications 8.75% notes due 2018, Alltel Corporation 7.00% notes due 2016, Verizon Communications 5.55% notes due 2016, Verizon Communications 5.50% notes due 2017, GTE Corporation 6.84% notes due 2018, Verizon Communications 6.10% notes due 2018 and Verizon Communications 5.50% notes due 2018, subject to the terms and conditions specified in the related offer to purchase. To the extent that the net proceeds from the sale of notes exceeds the aggregate purchase price of the notes purchased in the tender offers, Verizon will use the remaining proceeds for general corporate purposes.

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