Moody's Investors Service (Moody's) has assigned a B3 corporate family rating (CFR) and a B3-PD probability of default rating to Windstream Services, LLC (New) (Windstream) in connection with its post-bankruptcy exit financing. Moody's has also assigned a Ba3 rating to Windstream's proposed $500 million super-senior revolving credit facility, and a B3 rating to proposed first lien debt totaling $2.15 billion, which will be comprised of some combination of a seven-year first lien term loan and eight-year senior first lien notes.
Moody's Investors Service (Moody's) placed all ratings for Uniti Group Inc. (Uniti) on review for upgrade. The outlook was revised to ratings under review from negative. The review for upgrade reflects the June 2020 court approved bankruptcy plan of Windstream Services, LLC (Windstream, WR), Uniti's largest tenant and main source of revenue.
Q1 2020 Windstream Holdings Inc Earnings Call