Fitch Rates Comcast's Senior Unsecured Notes 'A-'; Outlook Stable
Proceeds from the offering are expected to be used for working capital and general corporate purposes. The notes will be guaranteed by Comcast's subsidiaries included in the company's cross-guaranty structure. The Rating Outlook for all of Comcast's ratings is Stable.
As of Dec. 31, 2015 Comcast had approximately \\$53.3 billion of debt and preferred stock outstanding, including \\$12.5 billion outstanding at NBCUniversal Media, LLC (NBCUniversal) and \\$4.6 billion outstanding at NBCUniversal Enterprise.
Fitch currently rates Comcast as follows:
Comcast Corporation
--Long-term IDR 'A-';
--Senior unsecured debt 'A-'
--\\$6.25 billion revolving bank facility (co-borrower with Comcast Cable Communications LLC) 'A-';
--Short-term IDR 'F2';
--Commercial Paper 'F2'.
Comcast Holdings Corporation
--IDR 'A-';
--Subordinated exchangeable notes 'BBB'.
Comcast Cable Communications, LLC
--IDR 'A-';
--Senior unsecured debt 'A-';
--\\$6.25 billion revolving bank facility (co-borrower with Comcast) 'A-'.
Comcast Cable Holdings, LLC
--IDR 'A-';
--Senior unsecured debt 'A-'.
Comcast MO Group, Inc.
--IDR 'A-';
--Senior unsecured debt 'A-'.
Comcast MO of Delaware, LLC
--IDR 'A-'.
NBC Universal Media, LLC
--IDR 'A-';
--Senior unsecured debt 'A-'.
NBCUniversal Enterprise, Inc.
--IDR 'A-';
--Senior unsecured debt 'A-';
--\\$1.35 billion revolving bank facility 'A-';
--Series A preferred stock 'BBB';
--Short-term IDR 'F2';
--Commercial Paper 'F2'.
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