AT&T Inc. -- Moody's rates AT&T's add-on notes Baa1, outlook remains negative

New York, May 03, 2016 -- Moody's Investors Service, ("Moody's") assigned Baa1 ratings to AT&T Inc.'s ("AT&T") add-on notes offering. AT&T will issue additional notes across a range of existing outstanding senior unsecured note series, including three, five, seven, ten and thirty year maturities. Moody's expects AT&T to use the proceeds to repay outstanding bank loan debt, some of which is due in 2018. Moody's expects AT&T will reduce the large 2018 maturity tower to a level that it is more in line with its average annual maturities. The new notes will not impact the company's Baa1 senior unsecured long term debt or the Prime-2 short-term debt rating.

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