Moody's assigns a Ba1 rating to Viacom's proposed junior subordinated note offering
New York, February 21, 2017-- Moody's Investors Service assigned a Ba1 rating to Viacom Inc.' s proposed benchmark junior subordinated note offering due 2057, with proceeds being used to retire debt and for general corporate purposes. Given certain terms, Moodys' will treat the proposed offering as having a 25% equity component, in accordance with our Methodology on Hybrid Equity. The proposed notes will rank one notch lower than the company's Baa3 senior unsecured debt ratings...Viacom provides entertainment through television, film, digital media, live events, merchandise and solutions. The company operates through two segments: Media Networks, which provides entertainment content, services and related branded products for consumers in targeted demographics attractive to advertisers, content distributors and retailers through its media brands including Nickelodeon, MTV, BET, Comedy Central and Paramount Network; and Filmed Entertainment, which develops, produces, finances, acquires and distributes films, television programming and other entertainment content through its Paramount Pictures, Paramount Players, Paramount Animation and Paramount Television divisions.
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