We are assigning our 'B' issue-level rating and '4' recovery ratings to Louisville, Colo.-based Zayo Group LLC 's proposed senior secured term loan. We are also raising the issue-level rating on the senior secured notes due 2017 to 'B' revising the recovery rating on the notes to '4'. We are affirming our 'B' corporate credit rating. The stable outlook reflects the company's strong growth prospects balanced by what we consider a highly leveraged financial risk profile and aggressive financial policy. On Nov. 10, 2011, Standard&Poor's Ratings Services assigned its 'B' issue-level and '4' recovery ratings to Zayo Group LLC's proposed $315 million senior secured term loan B due 2016. The '4' recovery rating indicates expectations for average (30%
