DUFF & PHELPS EXPANDS REVIEW OF BELL ATLANTIC CAPITAL FUNDING CORP. AND BELL ATLANTIC FINANCIAL SERVICES, INC.
CHICAGO, Oct. 13 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has expanded its review of the debt ratings of Bell Atlantic Capital Funding Corp. (BEL-CF) and Bell Atlantic Financial Services, Inc. (BEL-FS) to assess the impact of the proposed merger with Tele-Communications, Inc. (TCI). The notes of BEL-CF and BEL-FS are rated "A+" (Single-A-Plus). These ratings were placed on Rating Watch - Down on Oct. 11 with the announcement that Bell Atlantic plans a major investment in Iusacell, S.A. de C.V., a Mexican cellular company. TCI is the nation's largest cable TV operator and owns significant programming assets. The proposed merger with TCI will strategically position Bell Atlantic to be a major player in the converging voice and video communications industries. However, TCI has over $10 billion in consolidated long-term debt outstanding. Its senior debt is currently rated "BBB-" (Triple-B-Minus). Duff & Phelps will undertake a thorough review of the implications of the proposed merger on the credit quality of Bell Atlantic and its supported affiliates. It is clear at the outset, however, that this transaction will further increase the business and financial risk profile of the company. -0- 10/13/93 /CONTACT: James J. Stork, CFA, of Duff & Phelps Credit Rating Co., 312-368-3125/ (BEL TCOMA)
CO: Bell Atlantic Corp.; Tele-Communications, Inc. ST: Pennsylvania, Colorado IN: TLS SU: RTG
LG -- NY047 -- 1635 10/13/93 11:39 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Oct 13, 1993|
|Previous Article:||COMIC-BOOK CREATOR: ZEN INTERGALACTIC NINJA IS 'SUPERMAN OF THE '90s'|
|Next Article:||WOOLWORTH CORPORATION REPOSITIONS U.S. AND CANADIAN OPERATIONS FOR FUTURE GROWTH|