Moody's gives Paniolo notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to the second-lien series B notes due 2027 of the Paniolo Cable Co. LLC with a stable outlook.

The series B notes were fully funded in August 2007 along with maximum note principal $186 million of series A senior notes, rated A3 and also due in 2027, the agency added.

Both series of notes were issued to provide financing for construction of a 255 mile state-of-the-art submarine and terrestrial telecommunications cable system connecting the five Hawaiian islands of Kauai, Oahu, Molokai, Maui and Hawaii, the agency said.

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