Davis Polk advised Comcast Corporation and NBCUniversal Media, LLC in connection with the cross-guarantee by Comcast and certain of its cable holding companies of NBCUniversal’s $11 billion of public debt securities and by NBCUniversal of Comcast’s and the cable guarantors’ $30 billion of public debt securities and Comcast’s $6.25 billion credit facility. Following Comcast’s announcement that it would acquire General Electric Company’s 49% stake in NBCUniversal and that it would include NBCUniversal in the cross-guarantee structure, Standard & Poor’s upgraded all of Comcast’s and NBCUniversal’s public debt securities from BBB+ to A- and Moody’s Investors Service upgraded Comcast’s public debt securities from Baa1 to A3 and NBCUniversal’s public debt securities from Baa2 to A3.

Comcast is a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal. NBCUniversal is one of the world’s leading media and entertainment companies in the development, production and marketing of entertainment, news and information to a global audience.

The Davis Polk corporate team included partner Bruce K. Dallas and law clerk Bryan M. Quinn. The Davis Polk credit team included partner Jason Kyrwood and associates Adam J. Ross, Lauren N. Gillespie and Jeong M. Oh. Members of the Davis Polk team are based in the Menlo Park and New York offices.



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