...SAN FRANCISCO (S&P Global Ratings) April 7, 2017--S&P Global Ratings today raised its ratings on Hickory, N.C.-based telecommunications infrastructure solutions provider CommScope Holding Co. Inc.'s unsecured debt instruments to '##-' from 'B+' and removed them from CreditWatch, where we had placed them on March 2, 2017. We revised the recovery rating to '4' from '5'. The '4' recovery rating reflects our expectation for average recovery (30%-50%; rounded estimate: 35%) in the event of payment default. The upgrade follows the close of its $750 million unsecured notes due 2027 and the redemption of its $500 million secured notes due 2020, and reflects the decreased amount of secured debt. These ratings are the same ratings we assigned to the $750 million unsecured notes. The '##-' corporate credit rating reflects leverage in the high-3x area as of the fourth quarter of 2016, as well as cyclical wireless carrier demand and connectivity investment spending, partly offset by the company's leading...
