Moody's rates Windstream loan Ba2, notes Ba3

Moody's Investors Service said it has assigned a Ba2 corporate family rating, a Ba2 rating for the proposed $2.9 billion in senior secured credit facilities, and a Ba3 rating for the $2.5 billion in senior notes at Windstream Corp., an entity to be created following the spinoff of the Alltel wireline operations and the reverse Morris Trust merger with Valor Telecommunications.

In addition, Moody's said it downgraded the ratings of the existing Alltel Georgia Communications to Baa2 and Alltel Communications Holdings of Midwest to Ba2.

Valor's corporate family rating was upgraded to Ba2, along with the senior secured credit facilities and the senior notes, reflecting the strong likelihood that the spinoff will be implemented as planned.

The upgrade of Valor's senior notes reflects the pari-passu treatment they will receive relative to Windstream's secured credit facilities, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.