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Moody's rates Windstream notes Ba3
Moody's Investors Service said it assigned a Ba3 rating to Windstream Corp.'s proposed $500 million issuance of senior unsecured notes due 2020.
The company expects to use the net proceeds primarily to fund the estimated $580 million in cash, debt repayment needs and other transaction fees and expenses for the acquisition of Q-Comm Corp. and its wholly owned subsidiaries, Kentucky Data Link and Norlight, Inc., the agency said.
Moody's believes that Windstream will fund the remaining cash uses from internal cash resources. Windstream expects to close the acquisition by the end of 2010.
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