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Article: Fitch Rates Viacom's Sr. Note Offering 'BBB'; Outlook Stable.
- Article from:
- Investment Weekly News
- Article date:
- October 17, 2009
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Fitch Ratings has assigned a 'BBB' rating to Viacom Inc.'s (Viacom) senior unsecured note offering. The notes will be pari passu with all existing debt and issued off of the April 2006 Indenture supplemented in October 2007 to include a Change of Control Repurchase Event covenant. Proceeds will be used to pay down existing debt. Fitch's current Issuer Default Rating for Viacom is 'BBB'. The Rating Outlook is Stable.
Viacom's ratings and Stable Outlook are supported by the company's strong cash generating ability, leading positions in numerous targeted demographics, solid carriage positions with the multiple service operators (MSOs) and overall global prominence ...