The Winners and Loser of an AT&T-Time Warner Deal

AT&T's agreement to acquire Time Warner for almost $109 billion includes $22 billion in net debt. AT&T's pro forma net leverage ratio will increase to about 2.85x, based on consensus 2017 Ebtida estimates for both companies. This compares with AT&T's current net leverage ratio of about 2.3x and its previously stated long-term goal of about 1.8x. AT&T has a long-term goal to increase its high triple B credit ratings from Moody's and S&P to the single A category. Berenberg Senior Media Analyst Sarah Simon discuss with Guy Johnson on "Bloomberg Markets: European Open."

Full Show: Bloomberg Daybreak: Americas (09/20)
32:02 - Bloomberg Daybreak: Americas hosted by David Westin, Jonathan Ferro, and Alix Steel. Guests include Stephen Ross, chairman at Related Companies, John Ryding, chief economist at RDQ Economics, and James Sweeney, chief economist at Credit Suisse AG. (Source: Bloomberg)
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