Moody's: Windstream on downgrade review

Moody's Investors Service said it placed Windstream Corp.'s Ba2 corporate family rating on review for downgrade.

The review is prompted by the company's lack of progress in reducing leverage and management's recent pledge to continue its common stock dividend at the current rate, Moody's said.

The agency also said it withdrew all ratings on debt at Windstream Holdings of the Midwest Inc. and Windstream Georgia Communications Corp.

The review will focus on Windstream's willingness and ability to reduce leverage, either through EBITDA growth or debt repayment, the agency said.

Moody's said it will also assess whether the company's competitive position could be undermined by its shareholder friendly capital allocation stance.

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