Windstream Corporation -- Moody's assigns ratings to Windstream's new debt; outlook changed to negative

New York, January 08, 2013 -- Moody's Investors Service has assigned a Baa3 (LGD2-13%) rating to Windstream Corporation's ("Windstream", or the "Company") proposed $300 million Term Loan B-4 due 2020 and a Ba3 (LGD5-75%) rating to its proposed $700 million senior unsecured notes due 2023. The proceeds will be used to refinance $300 million of term loan debt that matures in 2013 and $650 million face value of 8.875% senior secured PAETEC notes due 2017. As part of the rating action, Moody's has also changed the company's outlook to negative from stable due to the lack of progress in reducing leverage and Moody's view that the company's competitive position may be undermined by its shareholder friendly capital allocation stance.

Vollständigen Artikel bei Moodys lesen