New York, August 12, 2013 -- Moody's Investors Service assigned Baa2 ratings to Viacom Inc.'s ("Viacom") proposed debt issuance, comprising 5-year, 10-year and 30-year tranches of about $2.5-3.0 billion in total. It is anticipated that the new notes will be pari passu with the company's existing senior unsecured indebtedness. Proceeds from the issuance will be used for general corporate purposes, including the repayment of debt and the repurchase of shares under its share repurchase program. The offering will increase Viacom's leverage as of 6/30/13 from 2.7x to 3.4x (including Moody's standard adjustments), which is factored into the company's Baa2 rating. We expect the company to experience low to moderate EBITDA growth over the next few years and expect its leverage to be sustained within its target range of 2.75-3.0x (approximately 3.0-3.25x including Moody's adjustments).

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