Viacom Inc. -- Moody's says that possible re-combination of Viacom (Baa3-stable) and CBS (Baa2-stable) could result in return to Baa2 rating for Viacom

New York, September 29, 2016 -- Moody's Investors Service said that Viacom Inc. (Baa3, stable) announced that its board of directors has received a letter from National Amusements (NAI) requesting that it explore a potential combination of Viacom and CBS Corporation. In our view, such a combination could potentially shore up Viacom's fundamental and financial profile, and could result in a return to Baa2 senior unsecured debt ratings if it is completed in a manner not detrimental to bondholders. NAI stated that its tentative view is that the optimal structure would be an all-stock transaction in which the stockholders of each company would receive shares in the combined company of the same class as they currently hold.

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