Fitch Ratings said Friday that it has affirmed Verizon Communications Inc.'s (VZ) Issuer Default Ratings 'A'.
The Rating Outlook is Stable.
Fitch said Verizon's ratings are supported by strong free cash flows which, in turn, provide the company flexibility with respect to operating within its target leverage range of 1.3 times (x)-1.4x. The leverage range is conservative relative to Fitch's expectations of around 1.5x for the category.
Verizon has significant scale and scope in its domestic wireline and wireless businesses and a high proportion of revenues from wireless and wireline growth areas, the rating agency noted.
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