S&P puts Uniti on positive watch

S&P said it placed all its ratings for Uniti Group Inc. on CreditWatch positive following the announcement of a settlement with Windstream Holdings.

“The CreditWatch positive placement reflects our view that this agreement, once completed, will remove a significant source of uncertainty and increase the likelihood that Uniti will be able to meet its financial commitments. We view the agreement favorably since it will provide Uniti with greater clarity on the long-term viability of the lease payment,” said S&P in a press release.

The agency expects to resolve the CreditWatch placement when the settlement is executed. At that point, S&P said it would likely raise the ratings two notches to CCC+.

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