Moody’s: Windstream view to negative

Moody's Investors Service said it changed the outlook for Windstream Services, LLC to negative from stable following the company's weak 2016 results and 2017 guidance.

The agency also affirmed Windstream's B1 corporate family rating, B1-PD probability of default rating, B2 (LGD4) unsecured debt rating and B1 (LGD3) senior secured debt rating.

Windstream's revenues and EBITDA both declined by around 4.5% in 2016, Moody’s explained. Management expects a similar rate of decline in 2017 including the pro forma full year impact of the EarthLink acquisition.

Due to this fundamental weakness, Windstream's leverage rose to 5.3 times (Moody's adjusted) at year-end 2016, the agency added.

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