New York, June 15, 2016 -- Moody's Investors Service said that Windstream Services, LLC ("Windstream" or "the company") recent announcement that it would monetize 50% of its ownership in Communications Sales & Leasing ("CS&L"), raising $309 million is credit positive but does not impact its ratings. The proceeds of the transaction will be used to pay down a portion of the outstanding balance on the company's revolving credit facility. Although Windstream's ratings will not immediately be affected, the transaction favorably impacts the company's credit profile by improving its liquidity position. Moody's also expects Windstream to monetize its remaining stake in CS&L before April of 2017 with 100% of the proceeds used for debt reduction. With approximately $370 million of unsecured notes due in November of 2017, the flexibility provided by a combination of enhanced liquidity and the opportunity to further monetize its CS&L assets mitigates considerable risk related to Windstream's maturity profile.

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