Fitch lifts Uniti Group

Fitch Ratings said it upgraded Uniti Group Inc.’s long-term issuer default rating to B+ from CCC. The agency also raised the long-term IDR of its subsidiary, Uniti Fiber Holdings, Inc. to B+ from CCC.

Fitch revised the outlook to stable from positive following the upgrade.

In addition, Fitch assigned a long-term IDR of B+ to Uniti Group, LP with a stable outlook. Fitch also raised the senior unsecured rating for Uniti Fiber to B/RR5 from CCC-/RR5 and upgraded Uniti Group’s senior secured rating to BB+/RR1 from B/RR1 and senior unsecured to B/RR5 from CCC-/RR5.

“The upgrade and stable rating outlook reflect materially lower risk and expected improvement in Uniti's credit metrics as its major tenant, Windstream Holdings, Inc. has emerged from bankruptcy in a better financial position,” Fitch said in a press release.

© 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.