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S&P: Valor Communications still on positive watch
Standard & Poor's said its ratings on Valor Communications Group Inc. remain on CreditWatch, where they were placed with positive implications on Dec. 9.
The listing followed the announcement that Valor will merge with the newly formed wireline company created by the spin-off of Alltel Corp.'s wireline business, the agency noted, adding that the merged entity will be named Windstream Corp.
Upon completion of the spin-off and merger transactions, S&P said it will raise its ratings on Valor's 7.75% notes due 2015 to BBB- from B.
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