Moody's upgrades D&E

Moody's Investors Service said it upgraded D&E Communications Inc.'s corporate family rating to Ba2 from Ba3, probability-of-default rating to Ba3 from B1, senior secured bank credit facility to Ba2 from Ba3 and speculative-grade liquidity rating to SGL-1 from SGL-2.

This concludes the review begun in May, and the outlook is stable.

The upgrades follow completion of the acquisition of D&E by Windstream Corp. and reflect Moody's view that the acquisition enhances D&E's standalone credit profile.

The agency said it will withdraw all ratings for D&E because the bank debt has been repaid and no future standalone financial information on D&E will be available.

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