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Moody's affirms Windstream
Moody's Investors Service said it affirmed its ratings for Windstream Corp., including its Ba2 corporate family and probability of default ratings, upon the company's announced plan to acquire Hosted Solutions.
At the same time, Moody's said it lowered Windstream's speculative-grade liquidity to SGL-2 from SGL-1.
The outlook is stable.
The decline in the SGL rating reflects Windstream's diminished pro forma liquidity profile as the company will likely use cash on hand and existing committed external sources of liquidity to finance the transaction, the agency added.
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