New York, December 15, 2016 -- Moody's Investors Service ("Moody's") has assigned a Ba3 rating to Consolidated Communications, Inc.'s ("Consolidated") proposed $935 million term loan B. On December 5, 2016 Consolidated agreed to acquire FairPoint Communications Inc. ("FairPoint") in an all-stock transaction valued at approximately $1.5 billion, including FairPoint's existing debt. The proceeds of the term loan will be used to repay debt at FairPoint and pay transaction-related fees and expenses. The outlook remains stable.
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