S&P rates Broadview Networks, notes B-

Standard & Poor's said it assigned its B- corporate credit rating to Broadview Networks Holdings Inc.

The outlook is stable.

The agency said it also assigned a B- bank loan rating, same as a corporate credit rating, to the company's $210 million of senior secured notes due 2012 and 5 recovery rating.

S&P added that the rating reflects the company's vulnerable business position and highly leveraged financial profile, noting that Broadview's business risk is very high as a CLEC facing ongoing competitive threats from the much larger, financially stronger incumbent telephone companies, predominantly Verizon Communications Inc.

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