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TIME WARNER $1.0 BILLION 9-1/8 PCT. SENIOR NOTES RATED 'BBB-' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Jan. 8 /PRNewswire/ -- Time Warner Inc.'s new issue of $1.0 billion 9-1/8 percent senior notes due Jan. 15, 2013, is rated "BBB-" by Fitch. Proceeds of the offering will likely be used to repurchase or redeem outstanding debt or preferred stock. The credit trend is improving.
 The rating is supported by the company's position as America's leading magazine publisher, the size and diversity of its music business, and the stable cash flow characteristics of its operating units. The rating also reflects the value of its equity position in Time Warner Entertainment (TWE), a self-financing limited partnership that includes the company's cable television properties, filmed entertainment operating unit, and HBO programming businesses.
 -0- 1/8/93
 /CONTACT: Keith B. Foley of Fitch, 212-908-0572/
 (TWX)


CO: Time Warner Inc. ST: New York IN: ENT SU: RTG

GK -- NY022 -- 2994 01/08/93 11:28 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jan 8, 1993
Words:148
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