Moody's affirms Cincinnati Bell

Moody's Investors Service said it affirmed Cincinnati Bell's Ba3 corporate family rating, the individual debt ratings and the SGL-1 rating after the company said it would buy back up to $150 million in stock over the next 24 months.

The outlook remains stable.

The Ba3 corporate family rating reflects the company's relatively high leverage and its modest free cash flow in relation to total debt, the agency said.

The rating is supported by expected improvements in the wireless and technology segments, Moody's said.

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