A $ 150 million issue of Blockbuster Entertainment Corp. senior notes, due Feb. 15, 1998, was priced as 6 5/8% at 99.90 to yield 6.649%, 118 basis points above the five-year Treasury note. Rated Baa3 by Moody’s Investors Service Inc. and BBB- by Standard & Poor’s Corp., the noncallable issue will be sold through underwriters led by Merrill Lynch & Co.

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Standard & Poor’s Corp. said it assigned its preliminary BBB- rating to Time Warner Inc.’s $ 1.5 billion Rule 415 shelf registration of convertible senior debt securities, or senior debt securities with common stock warrants.

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