CenturyLink, Inc. -- Moody's rates CenturyLink's new notes Ba3

New York, March 22, 2016 -- Moody's Investors Service ("Moody's") has assigned a Ba3 rating to CenturyLink, Inc.'s ("CenturyLink" or "the company") proposed offering of Series Y notes. The proceeds from the notes offering, together with additional borrowings under the company's revolving credit facility and available cash, if any, will be used to provide its wholly-owned subsidiary, Embarq Corporation, with the total amount of funds required to fully retire at maturity all $1.184 billion aggregate principal amount of the Embarq notes. The company's other ratings and stable outlook remain unchanged.

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