...NEW YORK (Standard & Poor's) Jan. 11, 2016--Standard & Poor's Ratings Services today said its issue-level rating on Boulder, Colo.-based trading based fiber infrastructure and colocation provider Zayo Group LLC's senior secured term facility due 2021 remains '##-' with a recovery rating of '1' following the company's proposed $400 million add-on to the debt. The '1' recovery rating indicates our expectation for very high recovery (90% to 100%) in the event of payment default. In addition, the rating on the company's senior unsecured debt remains 'B-' with a recovery rating of '5.' The '5' recovery rating indicates our expectation for modest recovery (10% to 30%; lower half of the range) in the event of payment default. Adjusted leverage for Zayo was approximately 6.4x as of Sept. 30, 2015, on a reported basis, not including the full contribution from acquisitions made over the last 12 months. The effect of the acquisition on leverage is neutral. Zayo plans to use the proceeds to acquire...
