Verizon Communications launched tender offers and exchange offers for multiple debt series on May 11, 2026, alongside new note ratings from Fitch and S&P. The moves aim to optimize its balance sheet amid strong liquidity.
Verizon Communications Inc. announced on May 11, 2026, multiple cash tender offers, exchange offers, and consent solicitations for up to 20 series of outstanding debt securities, including ‘Any and All Notes’ and up to $1.25 billion of ‘Waterfall Notes,’ according to Verizon press release as of 05/11/2026. Concurrently, Fitch Ratings assigned a ‘BBB’ rating to Verizon’s new junior subordinated USD notes, citing strong liquidity with $8.4 billion in cash as of March 2026 and an undrawn $12 billion revolver, per