NEW YORK (S&P Global Ratings) Oct. 12, 2021--S&P Global Ratings today said that Radiate Holdco LLC's (B/Stable/--) plans to raise $720 million of incremental secured debt via add-ons to its existing term loan B due 2026, as well as through additional first-lien debt (to be launched in the coming days), will not affect the company's credit quality at this time. The company plans to use the proceeds to fund its acquisitions of WoW Chicago and Harris Broadband and to paydown existing revolver borrowings. Our 'B' secured issue-level ratings will continue to carry a '3' recovery rating, indicating our expectation for meaningful recovery (50%-70%; rounded estimate: 55%) in a simulated default. This analysis includes incremental value from acquired assets, which is
