Moody’s upgrades Uniti

Moody’s Investors Service said it upgraded Uniti Group Inc.’s corporate family rating to B3 from Caa2, probability of default rating to B3-PD from Caa2-PD, senior secured debt rating to B2 from Caa1 and unsecured debt rating to Caa2 from Ca. Uniti’s speculative grade liquidity rating remains unchanged at SGL-3, indicating adequate liquidity.

Moody’s also changed the outlook to stable from rating under review. These actions conclude the review for upgrade initiated on July 22.

“The upgrade of the CFR and stable outlook reflect the improved financial flexibility of Uniti’s primary customer, Windstream Services, LLC (Windstream, B3 stable), following Windstream’s September 2020 exit from bankruptcy and balance sheet restructuring,” Moody’s said in a press release.

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