Moody’s assigns Uniti notes B2

Moody’s Investors Service said it assigned a B2 to Uniti Group Inc.’s planned $570 million of senior secured notes due 2028. Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC will sell the notes.

“The B2 rating is the same as the rating on the existing secured debt. Uniti operates through a customary up-REIT structure under which it holds its assets through Uniti Group LP, a partnership that Uniti controls as general partner; Uniti Group Finance 2019 Inc. and CSL Capital LLC are subsidiaries of Uniti Group LP,” the agency said in a press release.

Uniti will use the proceeds to fund the redemption of its 6.6% secured notes due 2023.

All other ratings, including Uniti’s B3 corporate family rating and stable outlook are unchanged, Moody’s said.

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