...SAN FRANCISCO (S&P Global Ratings) March 2, 2017--S&P Global Ratings today assigned its '##-' issue-level rating to Hickory, N.C.-based telecommunications infrastructure solutions provider CommScope Holding Co. Inc. 's proposed 10-year $750 million unsecured notes. We also assigned our '4' recovery rating to the notes, indicating our expectation for average recovery (30%-50%, rounded estimate: 35%) in the event of payment default. The company intends to use the proceeds to redeem its $500 million secured notes due in 2020, repay its secured term loan due in 2018, and repay a portion of its secured term loan due in 2022. We will withdraw our ratings on the fully repaid instruments after the transaction closes. These ratings are higher than our 'B+' issue-level and '5' recovery ratings on the company's existing unsecured debt. We placed the 'B+' rating on CreditWatch with positive implications and intend to raise this rating to '##-' (with a '4' recovery rating) after the transaction closes,...
