Fitch rates Uniti notes BB+

Fitch Ratings said it assigned BB+/RR1 ratings to Uniti Group, LP’s offering of $570 million of senior secured notes due 2028. Uniti Group, LP is a subsidiary of Uniti Group Inc.

Fitch rates Uniti’s outstanding senior secured debt BB+.

Uniti Group Finance 2019 Inc. and CSL Capital, LLC are co-issuers of the notes. The notes will be guaranteed on a senior unsecured basis by Uniti and on a senior secured basis by each of Uniti’s subsidiaries (other than the issuers) that guarantees indebtedness under the senior secured credit facilities and its outstanding secured notes

Proceeds with cash on hand are expected to be used to redeem its 6% senior secured notes due 2023 and to pay related fees and expenses.

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