NEW YORK CITY (dpa-AFX) - Fitch Ratings said Wednesday that it has affirmed Verizon Communications Inc.'s (VZ) long-term Issuer Default Rating at 'A'.
The Rating Outlook is Stable.
Fitch said Verizon's ratings reflect the company's strong free cash flows which, in turn, underpin its ability to operate within its target leverage range of 1.3x-1.4x which is within Fitch's expectations of around 1.5x for the category.
Additionally, the ratings recognize the significant scale and scope of the company's domestic wireline and wireless businesses and the high proportion of revenues from wireless and wireline growth areas, the rating agency said.
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