Bulletin: Zayo Group LLC Ratings Are Unaffected By Its Proposed $500 Million Add-On To Senior Unsecured Notes

NEW YORK (S&P Global Ratings) April 5, 2017--S&P Global Ratings said today that its ratings and outlook on Boulder, Colo.-based fiber infrastructure and colocation provider Zayo Group LLC (B+/Stable/--) are unaffected by the company's proposed $500 million add-on to its $800 million of 5.75% senior unsecured notes due 2027. The issue-level rating on the company's senior unsecured debt is 'B' and the recovery rating on this debt is '5', indicating our expectation for modest (10%-30%; rounded estimate: 25%) recovery of principal and interest for unsecured lenders in the event of a payment default. The unaffected ratings include our 'BB' issue-level rating and '1' recovery rating on the company's senior secured debt. The '1' recovery rating indicates our expectation for very

...NEW YORK (S&P Global Ratings) April 5, 2017--S&P Global Ratings said today that its ratings and outlook on Boulder, Colo.-based fiber infrastructure and colocation provider Zayo Group LLC (B+/Stable/--) are unaffected by the company's proposed $500 million add-on to its $800 million of 5.75% senior unsecured notes due 2027. The issue-level rating on the company's senior unsecured debt is 'B' and the recovery rating on this debt is '5', indicating our expectation for modest (10%-30%; rounded estimate: 25%) recovery of principal and interest for unsecured lenders in the event of a payment default. The unaffected ratings include our '##' issue-level rating and '1' recovery rating on the company's senior secured debt. The '1' recovery rating indicates our expectation for very high (90%-100%; rounded estimate: 95%) recovery of principal and interest for secured lenders in the event of a payment default. The company will use net proceeds of the add-on to ratably repay approximately $500 million...

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