Moody's rates Fibertech loan B2

Moody's Investors Service said it rated Fibertech Networks, LLC's new credit facility B2.

At the same time, the company's corporate family and probability of default ratings were affirmed at B2.

The outlook is stable.

The new senior secured credit facility, comprised of a $50 million revolving term loan a $380 million term loan B, replaces an existing facility comprised of the $241 million balance of a term loan B and an unused $52.5 million revolving term loan.

Proceeds from the new term loan together with cash on hand will fund a special dividend of $159 million and repay the existing term loan.

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