New York, November 15, 2016 -- Moody's Investors Service assigned a Baa1 rating to 21st Century Fox America, Inc's proposed benchmark size senior unsecured notes offering. 21st Century Fox America, Inc. is an indirect wholly owned subsidiary of Twenty-First Century Fox, Inc. ("FOX"). The new notes are senior unsecured obligations and will rank equally with the company's existing senior unsecured debt and future unsecured obligations. Proceeds from the offering will be used for general corporate purposes. Debt-to-EBITDA incorporating Moody's standard adjustments was around 3.0x as of 06/30/2016 and we anticipate leverage will decline to under 3.0x within the next twelve months driven by expected growth in EBITDA. Today's bond issuance will not impact the company's Baa1 senior unsecured long-term debt rating or the stable outlook.

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