Mergers Would Make AT&T, Comcast World’s Most Indebted Companies

Comcast aims to purchase 21st Century Fox.A wave of expected major-media mergers would transform AT&T Inc. and Comcast Corp. into the two most indebted companies in the world, a standing that carries uncharted risks for investors in the firms’ bonds.
If both deals are finalized—AT&T has bought Time Warner Inc. and Comcast hopes to purchase 21st Century Fox Inc.—the companies will carry a combined $350 billion of bonds and loans, according to data from Dealogic and Moody’s Investors Service. The purchases are meant to provide additional income to help the acquirers to weather turmoil sweeping their industries. But if the mergers falter, the record debt loads will give AT&T and Comcast little margin for error, fund managers and credit ratings analysts say… more

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