New York, June 03, 2015 -- Moody's says that Consolidated Communications, Inc.'s ("Consolidated" or "the company") proposed $300 million tack-on to its existing $200 million 6.5% senior unsecured notes due 2022 (initially issued by Consolidated Communications Finance II Co.) is slightly credit positive. The company's B1 Corporate Family Rating and stable outlook remain unchanged at the present time. Consolidated intends to use the net proceeds of the offering to redeem all of the company's outstanding $227 million 10.875% senior unsecured notes due 2020, to repay a portion of outstanding borrowings under the company's revolving credit facility and to pay related fees and expenses. While a modest amount of incremental debt will be raised, the company's interest expense will drop by about $6 million annually and its debt maturity schedule will be extended a bit.

Vollständigen Artikel bei Moodys lesen