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Fitch rates Uniti Group notes B
Fitch Ratings said it assigned a B/RR5 rating to Uniti Group, LP's offering of $750 million of senior notes due 2029.
Uniti Group, LP is a subsidiary of Uniti Group Inc. (Uniti).
Net proceeds from the offering, together with cash on hand, are expected to be used to fund a tender offer of the company’s 8¼% senior notes due 2023 and to pay related fees and expenses.
Uniti Group Finance 2019 Inc. and CSL Capital, LLC are co-issuers of the notes.
“Uniti's ratings reflect materially lower risk and expected improvement in Uniti's credit metrics as its major tenant, Windstream Holdings, Inc., emerged from bankruptcy in 2020 in a better financial position,” Fitch said in a news release.
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