Zayo has entered a definitive agreement to purchase AboveNet for $2.2 billion. We are placing our ratings on Zayo, including the 'B' corporate credit rating, on CreditWatch with negative implications. The negative implication indicates the potential for a modest downgrade, pending further information on the acquisition and financing plan. On March 19, 2012, Standard&Poor's Ratings Services placed its ratings on Louisville, Colo.-based Zayo Group LLC, including the 'B' corporate credit rating, on CreditWatch with negative implications. The CreditWatch listing follows today's announcement that Zayo has entered a definitive agreement to acquire AboveNet Inc. for approximately $2.2 billion in cash. Zayo is expected to fund the transaction with a combination of debt and equity. The transaction is subject to
