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Walt Disney Company (The) -- Moody's says The Walt Disney Company's (A2) acquisition of AT&T's 9.5% stake in Hulu is credit positive

Moody's Investors Service said that The Walt Disney Company's ("Disney") announced acquisition of AT&T Inc.'s ("AT&T") (Baa2, stable) 9.5% stake in Hulu for approximately $1.43 billion is credit positive, although it does not impact the company's A2 rating. The purchase will be financed with cash on hand and will bring Disney's ownership stake in Hulu up to almost 70%, with the remaining 30% owned by Comcast Corporation (A3, stable).