Fitch Ratings said June 13 that it will keep AT&T Inc. on Rating Watch Negative until the U.S. Department of Justice decides whether to stay or appeal the ruling of a U.S. district court judge to allow AT&T's $85.4 billion purchase of Time Warner Inc.
AT&T's current issuer default rating and senior unsecured debt ratings are A- and on Rating Watch Negative.
U.S. District Court Judge Richard Leon on June 12 approved the deal with no conditions. Assistant Attorney General Makan Delrahim, head of the Justice Department's antitrust division, said the agency will closely review the judge's opinion and consider its next steps.
AT&T hopes to close the transaction on or before June 20, just before the June 21 termination date of the merger agreement.