DIRECTV Holdings LLC -- Moody's withdraws DirecTV's ratings and outlook after completion of debt exchange

New York, March 24, 2016 -- Moody's Investors Service, ("Moody's") has withdrawn the ratings and outlook for DirecTV Holdings LLC ("DTV" or "the company") as a result of AT&T Inc.'s ("AT&T") successful tender offer and consent solicitation to remove DTV's reporting requirement. Pursuant to the offer, AT&T has exchanged almost all outstanding debt issued by its wholly owned subsidiaries, DIRECTV Holdings LLC and DIRECTV Financing Co., Inc. for notes issued by AT&T Inc. with the same coupons and maturities. Roughly 95% of debtholders participated in the exchange which will greatly reduce the degree of structural subordination of debt at AT&T Inc.

Vollständigen Artikel bei Moodys lesen